Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) traded down 6.7% on Monday . The stock traded as low as $64.37 and last traded at $66.92. 4,669,446 shares changed hands during trading, an increase of 146% from the average session volume of 1,901,153 shares. The stock had previously closed at $71.70.
A number of equities analysts have recently commented on TNDM shares. BidaskClub raised shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 5th. Bank of America reissued a “neutral” rating and issued a $65.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, May 17th. ValuEngine raised shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 15th. Svb Leerink started coverage on shares of Tandem Diabetes Care in a research note on Monday, May 13th. They set an “outperform” rating and a $83.00 price target on the stock. Finally, Leerink Swann began coverage on shares of Tandem Diabetes Care in a research report on Monday, May 13th. They issued an “outperform” rating and a $83.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.13.
The company has a quick ratio of 2.13, a current ratio of 2.43 and a debt-to-equity ratio of 0.09. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of -26.24 and a beta of 0.51.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Tuesday, April 30th. The medical device company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.10). Tandem Diabetes Care had a negative net margin of 50.73% and a negative return on equity of 40.76%. The company had revenue of $66.00 million during the quarter, compared to analyst estimates of $47.55 million. During the same quarter last year, the business earned ($1.82) EPS. The company’s revenue for the quarter was up 141.9% compared to the same quarter last year. Equities research analysts expect that Tandem Diabetes Care Inc will post -0.81 earnings per share for the current year.
In other Tandem Diabetes Care news, EVP Brian B. Hansen sold 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $72.00, for a total value of $720,000.00. Following the transaction, the executive vice president now directly owns 11,381 shares of the company’s stock, valued at approximately $819,432. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP David B. Berger sold 2,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $62.60, for a total value of $125,200.00. Following the completion of the transaction, the executive vice president now directly owns 3,765 shares in the company, valued at $235,689. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,000 shares of company stock valued at $3,505,580. 6.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in TNDM. Wellington Management Group LLP acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at $91,206,000. Columbus Circle Investors increased its holdings in Tandem Diabetes Care by 1,896.9% in the fourth quarter. Columbus Circle Investors now owns 848,842 shares of the medical device company’s stock valued at $32,231,000 after purchasing an additional 806,335 shares during the last quarter. Deutsche Bank AG increased its holdings in Tandem Diabetes Care by 130.1% in the fourth quarter. Deutsche Bank AG now owns 1,037,695 shares of the medical device company’s stock valued at $39,400,000 after purchasing an additional 586,684 shares during the last quarter. FMR LLC increased its holdings in Tandem Diabetes Care by 248.9% in the first quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock valued at $44,818,000 after purchasing an additional 503,482 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Tandem Diabetes Care by 353.8% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 536,654 shares of the medical device company’s stock worth $34,078,000 after acquiring an additional 418,388 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.
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About Tandem Diabetes Care (NASDAQ:TNDM)
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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