Tandem Diabetes Care Inc. (TNDM) Hits New 1-Year Low at $6.04
Tandem Diabetes Care Inc. (NASDAQ:TNDM)’s share price hit a new 52-week low on Monday . The company traded as low as $6.04 and last traded at $6.41, with a volume of 366,025 shares changing hands. The stock had previously closed at $6.63.
TNDM has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, June 15th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $12.00 target price on shares of Tandem Diabetes Care in a report on Thursday, April 21st. Zacks Investment Research upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Wednesday, July 6th. Sterne Agee CRT reiterated a “neutral” rating on shares of Tandem Diabetes Care in a report on Monday, May 16th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Tandem Diabetes Care in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Tandem Diabetes Care currently has an average rating of “Buy” and an average target price of $14.21.
The company has a 50-day moving average price of $7.48 and a 200-day moving average price of $8.16. The stock’s market cap is $191.33 million.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, July 28th. The medical device company reported ($0.60) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.65) by $0.05. The company had revenue of $23 million for the quarter, compared to the consensus estimate of $23.08 million. During the same quarter last year, the business posted ($0.65) EPS. Tandem Diabetes Care’s quarterly revenue was up 46.5% on a year-over-year basis. Analysts expect that Tandem Diabetes Care Inc. will post ($2.15) EPS for the current fiscal year.
An institutional investor recently raised its position in Tandem Diabetes Care stock. Westfield Capital Management Co. LP increased its position in Tandem Diabetes Care Inc. (NASDAQ:TNDM) by 3.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,125,281 shares of the medical device company’s stock after buying an additional 35,680 shares during the period. Westfield Capital Management Co. LP owned 3.74% of Tandem Diabetes Care worth $13,290,000 as of its most recent SEC filing.
Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).
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