Wedbush reiterated their outperform rating on shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in a report issued on Tuesday morning, The Fly reports. They currently have a $17.00 price objective on the medical device company’s stock, down from their prior price objective of $50.00. Wedbush also issued estimates for Tandem Diabetes Care’s Q3 2017 earnings at ($3.82) EPS, Q4 2017 earnings at ($2.81) EPS, FY2017 earnings at ($18.67) EPS, FY2018 earnings at ($4.71) EPS and FY2019 earnings at ($1.81) EPS.
Several other research analysts have also recently issued reports on the company. Piper Jaffray Companies restated a hold rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Zacks Investment Research upgraded Tandem Diabetes Care from a hold rating to a buy rating and set a $7.50 price objective for the company in a research note on Thursday, September 28th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Tandem Diabetes Care currently has an average rating of Buy and an average target price of $29.31.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.80) by $0.40. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 110.70%. The firm had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $21.74 million. During the same period last year, the business posted ($6.00) earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year.
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Institutional investors have recently bought and sold shares of the stock. Iguana Healthcare Management LLC grew its holdings in Tandem Diabetes Care by 33.3% during the first quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after acquiring an additional 25,000 shares during the period. Keybank National Association OH grew its holdings in Tandem Diabetes Care by 32.7% during the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after acquiring an additional 72,177 shares during the period. Russell Investments Group Ltd. acquired a new stake in Tandem Diabetes Care during the first quarter worth about $360,000. Paulson & CO. Inc. acquired a new stake in Tandem Diabetes Care during the first quarter worth about $600,000. Finally, Bank of America Corp DE grew its holdings in Tandem Diabetes Care by 88.6% during the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after acquiring an additional 404,452 shares during the period. 36.64% of the stock is currently owned by hedge funds and other institutional investors.
Tandem Diabetes Care Company Profile
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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