Tandem Diabetes Care Inc. (TNDM) Shares Up 4.1%
Shares of Tandem Diabetes Care Inc. (NASDAQ:TNDM) shot up 4.1% during mid-day trading on Monday . The company traded as high as $7.59 and last traded at $7.59, with a volume of 161,115 shares. The stock had previously closed at $7.29.
A number of research firms recently issued reports on TNDM. Zacks Investment Research raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research note on Wednesday, July 6th. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Tandem Diabetes Care in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.21.
The firm has a 50-day moving average price of $6.91 and a 200-day moving average price of $7.88. The stock’s market capitalization is $231.13 million.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, July 28th. The medical device company reported ($0.60) 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 analyst estimates of $23.08 million. Tandem Diabetes Care had a negative return on equity of 132.55% and a negative net margin of 80.21%. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.65) earnings per share. 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 Tandem Diabetes Care stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $6.52, for a total value of $97,800.00. Following the transaction, the executive vice president now directly owns 22,763 shares of the company’s stock, valued at $148,414.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 37.10% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Tandem Diabetes Care by 48.3% in the first quarter. Royal Bank of Canada now owns 13,959 shares of the medical device company’s stock worth $122,000 after buying an additional 4,544 shares in the last quarter. A.R.T. Advisors LLC bought a new position in Tandem Diabetes Care during the second quarter worth approximately $108,000. Quantitative Systematic Strategies LLC raised its position in Tandem Diabetes Care by 41.9% in the second quarter. Quantitative Systematic Strategies LLC now owns 14,691 shares of the medical device company’s stock worth $108,000 after buying an additional 4,335 shares in the last quarter. Alliancebernstein L.P. bought a new position in Tandem Diabetes Care during the second quarter worth approximately $112,000. Finally, Rhumbline Advisers raised its position in Tandem Diabetes Care by 3.8% in the second quarter. Rhumbline Advisers now owns 16,317 shares of the medical device company’s stock worth $123,000 after buying an additional 600 shares in the last quarter. 58.85% of the stock is currently owned by institutional investors.
Tandem Diabetes Care Company Profile
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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