Tandem Diabetes Care (TNDM) Shares Down 13.3%
Tandem Diabetes Care Inc (NASDAQ:TNDM)’s share price was down 13.3% during mid-day trading on Tuesday . The stock traded as low as $2.76 and last traded at $2.81. Approximately 1,100,163 shares traded hands during trading, a decline of 12% from the average daily volume of 1,247,796 shares. The stock had previously closed at $3.24.
Several equities analysts have issued reports on TNDM shares. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research note on Wednesday, November 1st. Wedbush reiterated an “outperform” rating and issued a $17.00 price objective (down previously from $50.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 10th. Piper Jaffray Companies reiterated a “hold” rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $3.00 price objective on shares of Tandem Diabetes Care in a research note on Sunday, November 19th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus price target of $11.29.
The company has a debt-to-equity ratio of -2.70, a current ratio of 1.90 and a quick ratio of 0.88. The firm has a market cap of $28.43, a P/E ratio of -0.14 and a beta of 0.17.
Several large investors have recently modified their holdings of TNDM. Wedbush Securities Inc. lifted its stake in shares of Tandem Diabetes Care by 88.6% in the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after purchasing an additional 88,709 shares during the period. Russell Investments Group Ltd. increased its holdings in Tandem Diabetes Care by 93.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock worth $465,000 after acquiring an additional 280,551 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Tandem Diabetes Care by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after acquiring an additional 32,991 shares in the last quarter.
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About Tandem Diabetes Care
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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