Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) shares traded down 4% on Friday . The company traded as low as $36.46 and last traded at $36.02. 102,680 shares were traded during trading, a decline of 88% from the average session volume of 867,878 shares. The stock had previously closed at $37.53.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They issued a "neutral" rating and a $46.00 price objective for the company. Barclays raised their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Citigroup lowered their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Tandem Diabetes Care currently has an average rating of "Moderate Buy" and an average target price of $53.81.
Get Our Latest Analysis on TNDM
Tandem Diabetes Care Stock Performance
The firm's fifty day moving average price is $33.57 and its 200-day moving average price is $37.94. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -18.21 and a beta of 1.29.
Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million during the quarter, compared to analysts' expectations of $224.14 million. During the same quarter in the prior year, the business posted ($0.38) EPS. The company's revenue for the quarter was up 31.4% on a year-over-year basis. Analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.
Insider Activity
In related news, Director Kim D. Blickenstaff sold 10,000 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares in the company, valued at $5,855,700. This represents a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.20% of the company's stock.
Institutional Trading of Tandem Diabetes Care
Several institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in Tandem Diabetes Care in the 3rd quarter valued at $28,000. Assetmark Inc. purchased a new stake in Tandem Diabetes Care in the 3rd quarter valued at $29,000. ORG Wealth Partners LLC purchased a new position in Tandem Diabetes Care during the 3rd quarter worth $30,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tandem Diabetes Care by 4.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company's stock worth $664,000 after buying an additional 704 shares during the last quarter. Finally, Hanseatic Management Services Inc. raised its position in Tandem Diabetes Care by 5.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 13,941 shares of the medical device company's stock worth $591,000 after buying an additional 710 shares during the last quarter.
About Tandem Diabetes Care
(
Get Free Report)
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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