Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Saturday.
Several other research analysts also recently weighed in on the company. Zacks Investment Research raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Wednesday, December 20th. Oppenheimer initiated coverage on Tandem Diabetes Care in a research note on Monday, February 26th. They set a “buy” rating and a $6.00 target price for the company. Citigroup began coverage on Tandem Diabetes Care in a research note on Tuesday, February 27th. They set an “outperform” rating and a $5.50 target price for the company. Cowen reiterated a “hold” rating on shares of Tandem Diabetes Care in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $4.00 price target on shares of Tandem Diabetes Care in a research report on Friday, March 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $9.81.
Shares of TNDM stock opened at $5.75 on Friday. The company has a debt-to-equity ratio of -2.63, a current ratio of 1.78 and a quick ratio of 1.03. The company has a market cap of $241.82, a PE ratio of -0.45 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.
In other news, CEO Kim D. Blickenstaff purchased 750,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $2.00 per share, for a total transaction of $1,500,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher J. Twomey purchased 75,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $2.00 per share, with a total value of $150,000.00. The disclosure for this purchase can be found here. Insiders have purchased 850,539 shares of company stock valued at $1,749,091 over the last quarter. 20.90% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Tandem Diabetes Care stock. Vanguard Group Inc. raised its stake in Tandem Diabetes Care (NASDAQ:TNDM) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,233,607 shares of the medical device company’s stock after buying an additional 32,991 shares during the quarter. Vanguard Group Inc. owned approximately 2.46% of Tandem Diabetes Care worth $987,000 at the end of the most recent quarter. 8.74% of the stock is currently owned by institutional investors.
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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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