Tandem Diabetes Care Inc. (TNDM) Shares Up 3.3%
Tandem Diabetes Care Inc. (NASDAQ:TNDM) shot up 3.3% during mid-day trading on Wednesday . The stock traded as high as $7.24 and last traded at $7.23, with a volume of 207,395 shares traded. The stock had previously closed at $7.00.
Several brokerages have recently issued reports on TNDM. Zacks Investment Research raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a research report on Wednesday, May 4th. Wedbush reissued an “outperform” rating and set a $20.00 price objective on shares of Tandem Diabetes Care in a research report on Friday, July 29th. Finally, Sterne Agee CRT reissued a “neutral” rating on shares of Tandem Diabetes Care in a research report on Monday, May 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $14.21.
The stock’s market capitalization is $220.72 million. The company’s 50-day moving average price is $7.11 and its 200 day moving average price is $7.97.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, July 28th. The medical device company reported ($0.60) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.05. The firm had revenue of $23 million for the quarter, compared to analysts’ expectations of $23.08 million. During the same period last year, the company earned ($0.65) earnings per share. The firm’s revenue was up 46.5% on a year-over-year basis. On average, analysts expect that Tandem Diabetes Care Inc. will post ($2.14) earnings per share for the current year.
In related news, EVP John F. Sheridan sold 15,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $6.52, for a total transaction of $97,800.00. Following the sale, the executive vice president now owns 22,763 shares in the company, valued at approximately $148,414.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
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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