Zacks Investment Research Upgrades Tandem Diabetes Care (TNDM) to “Buy”

Zacks Investment Research upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a hold rating to a buy rating in a research note released on Thursday morning. They currently have $5.00 target price on the medical device company’s stock.

According to Zacks, “Tandem Diabetes Care, Inc. is a medical device company. The Company designs, develops, and commercializes products for people with insulin-dependent diabetes. Its products include t:slim Insulin Delivery System. Tandem Diabetes Care, Inc. is headquartered in San Diego, California. “

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A number of other equities analysts also recently weighed in on the company. Cowen raised Tandem Diabetes Care from a market perform rating to an outperform rating in a research report on Wednesday, March 28th. Robert W. Baird raised Tandem Diabetes Care from a neutral rating to an outperform rating in a research report on Friday, March 23rd. Oppenheimer reissued a buy rating on shares of Tandem Diabetes Care in a research report on Thursday, March 22nd. ValuEngine downgraded Tandem Diabetes Care from a hold rating to a sell rating in a research report on Wednesday, March 7th. Finally, Stifel Nicolaus reissued a hold rating and set a $4.00 price target on shares of Tandem Diabetes Care in a research report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $9.50.

Shares of NASDAQ TNDM opened at $4.96 on Thursday. The company has a market cap of $221.71, a price-to-earnings ratio of -0.39 and a beta of 0.20. The company has a debt-to-equity ratio of -2.63, a quick ratio of 1.03 and a current ratio of 1.78. Tandem Diabetes Care has a twelve month low of $2.14 and a twelve month high of $13.00.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, March 1st. The medical device company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.13). The business had revenue of $40.00 million during the quarter, compared to analysts’ expectations of $38.41 million. The firm’s revenue was up 61.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.48) earnings per share. analysts anticipate that Tandem Diabetes Care will post -1.43 earnings per share for the current fiscal year.

In other news, Director Dick Allen acquired 25,539 shares of Tandem Diabetes Care stock in a transaction dated Tuesday, March 6th. The stock was bought at an average price of $3.88 per share, for a total transaction of $99,091.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kim D. Blickenstaff acquired 750,000 shares of Tandem Diabetes Care stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $2.00 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 850,539 shares of company stock valued at $1,749,091. Corporate insiders own 20.90% of the company’s stock.

A hedge fund recently raised its stake in Tandem Diabetes Care stock. Russell Investments Group Ltd. raised its position in shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) by 13.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 659,993 shares of the medical device company’s stock after acquiring an additional 78,748 shares during the period. Russell Investments Group Ltd. owned approximately 6.52% of Tandem Diabetes Care worth $482,000 at the end of the most recent quarter. Institutional investors and hedge funds own 8.74% of the company’s stock.

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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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