Tandem Diabetes Care Inc. (NASDAQ:TNDM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $9.00 target price on the medical device company’s stock. Zacks Investment Research’s target price would indicate a potential upside of 17.49% from the company’s current price.
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. “
A number of other equities analysts also recently commented on TNDM. B. Riley began coverage on Tandem Diabetes Care in a report on Monday, September 26th. They issued a “buy” rating and a $10.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Tandem Diabetes Care presently has an average rating of “Buy” and an average target price of $13.71.
Shares of Tandem Diabetes Care (NASDAQ:TNDM) opened at 7.66 on Thursday. The firm’s 50-day moving average is $7.26 and its 200 day moving average is $7.80. The company’s market cap is $234.50 million. Tandem Diabetes Care has a 1-year low of $6.04 and a 1-year high of $12.48.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, July 28th. The medical device company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.05. Tandem Diabetes Care had a negative return on equity of 132.55% and a negative net margin of 80.21%. The firm had revenue of $23 million for the quarter, compared to the consensus estimate of $23.08 million. During the same quarter in the prior year, the company posted ($0.65) earnings per share. The firm’s revenue was up 46.5% on a year-over-year basis. Equities analysts expect that Tandem Diabetes Care will post ($2.14) EPS for the current fiscal year.
In other news, EVP John F. Sheridan sold 15,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $6.52, for a total value of $97,800.00. Following the completion of the sale, the executive vice president now directly owns 22,763 shares of the company’s stock, valued at $148,414.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.10% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Tandem Diabetes Care by 2.8% in the first quarter. Geode Capital Management LLC now owns 133,069 shares of the medical device company’s stock valued at $1,159,000 after buying an additional 3,650 shares in the last quarter. Jennison Associates LLC boosted its stake in Tandem Diabetes Care by 19.9% in the second quarter. Jennison Associates LLC now owns 37,033 shares of the medical device company’s stock valued at $279,000 after buying an additional 6,139 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Tandem Diabetes Care during the first quarter valued at $254,000. American Century Companies Inc. boosted its stake in Tandem Diabetes Care by 1.0% in the second quarter. American Century Companies Inc. now owns 246,224 shares of the medical device company’s stock valued at $1,857,000 after buying an additional 2,483 shares in the last quarter. Finally, Iguana Healthcare Management LLC acquired a new stake in Tandem Diabetes Care during the first quarter valued at $1,266,000. 58.85% of the stock is owned by institutional investors.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tandem Diabetes Care Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tandem Diabetes Care Inc. and related companies with MarketBeat.com's FREE daily email newsletter.