Shares of Tandem Diabetes Care (NASDAQ:TNDM) have earned an average recommendation of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $10.75.
TNDM has been the subject of a number of research analyst reports. Cowen raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 28th. Robert W. Baird raised shares of Tandem Diabetes Care from a “neutral” rating to an “outperform” rating in a report on Friday, March 23rd. Oppenheimer initiated coverage on shares of Tandem Diabetes Care in a report on Monday, February 26th. They issued a “buy” rating and a $6.00 price target for the company. Zacks Investment Research raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Saturday, January 6th. Finally, Citigroup initiated coverage on shares of Tandem Diabetes Care in a report on Tuesday, February 27th. They issued an “outperform” rating and a $5.50 price target for the company.
Shares of NASDAQ TNDM traded up $0.09 during midday trading on Wednesday, reaching $7.44. The company had a trading volume of 894,174 shares, compared to its average volume of 2,501,834. The stock has a market cap of $328.54, a P/E ratio of -0.58 and a beta of -0.32. Tandem Diabetes Care has a 1 year low of $2.14 and a 1 year high of $12.20. The company has a current ratio of 1.78, a quick ratio of 1.03 and a debt-to-equity ratio of -2.63.
In other Tandem Diabetes Care news, CEO Kim D. Blickenstaff acquired 750,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $2.00 per share, for a total transaction of $1,500,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher J. Twomey acquired 75,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $2.00 per share, for a total transaction of $150,000.00. The disclosure for this purchase can be found here. Insiders bought 850,539 shares of company stock worth $1,749,091 in the last quarter. Company 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. boosted its position in shares of Tandem Diabetes Care (NASDAQ:TNDM) by 13.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 659,993 shares of the medical device company’s stock after buying an additional 78,748 shares during the quarter. Russell Investments Group Ltd. owned approximately 6.52% of Tandem Diabetes Care worth $482,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.77% of the company’s stock.
About Tandem Diabetes Care
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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