Tandem Diabetes Care Inc. (TNDM) Trading Down 4.5%
Shares of Tandem Diabetes Care Inc. (NASDAQ:TNDM) traded down 4.5% during mid-day trading on Thursday . The company traded as low as $7.83 and last traded at $7.90, with a volume of 222,347 shares. The stock had previously closed at $8.27.
A number of analysts recently issued reports on the company. Robert W. Baird reissued a “buy” rating on shares of Tandem Diabetes Care in a research note on Monday, May 2nd. Zacks Investment Research raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research note on Wednesday, May 4th. Sterne Agee CRT reissued a “neutral” rating on shares of Tandem Diabetes Care in a research note on Monday, May 16th. Piper Jaffray Cos. reissued a “buy” rating and set a $12.00 target price on shares of Tandem Diabetes Care in a research note on Thursday, April 21st. Finally, Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, June 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.21.
The firm has a 50-day moving average of $7.52 and a 200 day moving average of $8.30. The firm’s market capitalization is $239.17 million.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, April 28th. The medical device company reported ($0.68) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.01. The firm had revenue of $20.06 million for the quarter, compared to the consensus estimate of $17.67 million. During the same quarter last year, the firm posted ($0.83) earnings per share. The business’s revenue for the quarter was up 63.0% on a year-over-year basis. Equities analysts predict that Tandem Diabetes Care Inc. will post ($2.16) earnings per share for the current fiscal year.
A hedge fund recently raised its stake 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 Securities and Exchange Commission (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 about 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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