Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $17.40 and last traded at $17.64, with a volume of 179644 shares trading hands. The stock had previously closed at $18.89.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on TNDM. Morgan Stanley lowered shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $45.00 to $22.00 in a research report on Wednesday, March 5th. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Citigroup lowered Tandem Diabetes Care from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $35.00 to $24.00 in a research note on Tuesday, March 4th. Robert W. Baird lowered their target price on Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $22.00 price target (down from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.38.
Read Our Latest Analysis on TNDM
Tandem Diabetes Care Stock Down 2.8 %
The company has a fifty day moving average of $25.96 and a 200 day moving average of $31.89. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a market cap of $1.09 billion, a P/E ratio of -8.48 and a beta of 1.52.
Insider Buying and Selling at Tandem Diabetes Care
In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of Tandem Diabetes Care stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the purchase, the chief operating officer now directly owns 10,538 shares of the company's stock, valued at approximately $190,948.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company's stock.
Hedge Funds Weigh In On Tandem Diabetes Care
Several institutional investors and hedge funds have recently bought and sold shares of TNDM. GAMMA Investing LLC raised its stake in shares of Tandem Diabetes Care by 763.3% in the first quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock worth $808,000 after buying an additional 37,303 shares during the period. Connective Capital Management LLC purchased a new stake in Tandem Diabetes Care in the 4th quarter worth $611,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tandem Diabetes Care by 20.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,739 shares of the medical device company's stock valued at $6,402,000 after acquiring an additional 30,133 shares during the period. Two Sigma Investments LP lifted its position in shares of Tandem Diabetes Care by 4.4% in the fourth quarter. Two Sigma Investments LP now owns 861,188 shares of the medical device company's stock valued at $31,020,000 after acquiring an additional 36,475 shares in the last quarter. Finally, State of Wyoming raised its stake in Tandem Diabetes Care by 95.9% during the 4th quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock valued at $108,000 after purchasing an additional 1,467 shares during the period.
Tandem Diabetes Care Company Profile
(
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Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.
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