Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.
Other research analysts have also issued research reports about the stock. Cowen reissued a “buy” rating and issued a $28.00 price objective on shares of Tandem Diabetes Care in a research note on Tuesday. ValuEngine raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday, April 7th. Zacks Investment Research lowered shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Lake Street Capital raised their price objective on shares of Tandem Diabetes Care to $35.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price target (up previously from $7.50) on shares of Tandem Diabetes Care in a research note on Tuesday. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $23.43.
Shares of NASDAQ TNDM traded up $2.02 during midday trading on Tuesday, hitting $30.59. The company’s stock had a trading volume of 85,555 shares, compared to its average volume of 2,086,699. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.01 and a current ratio of 3.02. Tandem Diabetes Care has a 1 year low of $2.14 and a 1 year high of $28.95. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -2.37 and a beta of 0.01.
A number of institutional investors have recently modified their holdings of the stock. First Manhattan Co. purchased a new position in Tandem Diabetes Care in the second quarter worth approximately $336,000. Barclays PLC lifted its stake in Tandem Diabetes Care by 75.7% in the first quarter. Barclays PLC now owns 47,100 shares of the medical device company’s stock worth $234,000 after acquiring an additional 20,300 shares during the last quarter. Gabelli Funds LLC purchased a new position in Tandem Diabetes Care in the first quarter worth approximately $102,000. Cetera Advisor Networks LLC purchased a new position in Tandem Diabetes Care in the first quarter worth approximately $117,000. Finally, A.R.T. Advisors LLC lifted its stake in Tandem Diabetes Care by 284.4% in the first quarter. A.R.T. Advisors LLC now owns 38,518 shares of the medical device company’s stock worth $191,000 after acquiring an additional 28,499 shares during the last quarter. Institutional investors own 50.79% of the company’s stock.
Tandem Diabetes Care Company Profile
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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