Tandem Diabetes Care Inc. (TNDM) Trading 5.9% Higher
Tandem Diabetes Care Inc. (NASDAQ:TNDM) shares traded up 5.9% during mid-day trading on Monday . The stock traded as high as $6.98 and last traded at $6.95, with a volume of 243,035 shares changing hands. The stock had previously closed at $6.56.
Several research analysts have recently issued reports on the stock. Robert W. Baird restated a “buy” rating on shares of Tandem Diabetes Care in a report on Monday, May 2nd. Zacks Investment Research downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Tandem Diabetes Care in a research report on Friday, July 29th. Sterne Agee CRT reiterated a “neutral” rating on shares of Tandem Diabetes Care in a research report on Monday, May 16th. Finally, Piper Jaffray Cos. reiterated a “buy” rating and issued a $12.00 price target on shares of Tandem Diabetes Care in a research report on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus price target of $14.21.
The company has a 50-day moving average price of $7.38 and a 200 day moving average price of $8.10. The stock’s market capitalization is $204.19 million.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, July 28th. The medical device company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.05. During the same quarter in the prior year, the business earned ($0.65) EPS. The firm had revenue of $23 million for the quarter, compared to analysts’ expectations of $23.08 million. The company’s revenue for the quarter was up 46.5% on a year-over-year basis. Analysts expect that Tandem Diabetes Care Inc. will post ($2.14) earnings per share for the current year.
In other news, EVP John F. Sheridan sold 15,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, August 1st. The shares were 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 $148,414.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
A hedge fund recently raised its stake in Tandem Diabetes Care stock. Westfield Capital Management Co. LP boosted its position in shares of Tandem Diabetes Care Inc. (NASDAQ:TNDM) by 3.3% during the fourth quarter, according to its most recent 13F 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 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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