Tandem Diabetes Care (TNDM) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a hold rating to a buy rating in a research note published on Thursday. The brokerage currently has $5.75 price target on the medical device company’s stock.

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. “

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Other research analysts have also recently issued research reports about the company. Cowen raised Tandem Diabetes Care from a market perform rating to an outperform rating in a research note on Wednesday, March 28th. Stifel Nicolaus reissued a hold rating and issued a $4.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, March 2nd. Robert W. Baird raised Tandem Diabetes Care from a neutral rating to an outperform rating in a research note on Friday, March 23rd. Oppenheimer reissued a buy rating on shares of Tandem Diabetes Care in a research note on Thursday, March 22nd. Finally, ValuEngine cut Tandem Diabetes Care from a hold rating to a sell rating in a research note on Wednesday, March 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Tandem Diabetes Care presently has a consensus rating of Buy and a consensus price target of $9.81.

Shares of NASDAQ:TNDM opened at $5.75 on Thursday. Tandem Diabetes Care has a 52-week low of $2.14 and a 52-week high of $12.20. The company has a debt-to-equity ratio of -2.63, a quick ratio of 1.03 and a current ratio of 1.78.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, March 1st. The medical device company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.13). The company had revenue of $40.00 million during the quarter, compared to the consensus estimate of $38.41 million. During the same quarter in the prior year, the business posted ($0.48) earnings per share. The firm’s quarterly revenue was up 61.3% compared to the same quarter last year. equities analysts predict that Tandem Diabetes Care will post -1.43 earnings per share for the current fiscal year.

In related news, Director Christopher J. Twomey bought 75,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $2.00 per share, with a total value of $150,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kim D. Blickenstaff bought 750,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $2.00 per share, for a total transaction of $1,500,000.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 850,539 shares of company stock worth $1,749,091 in the last ninety days. Insiders own 20.90% of the company’s stock.

An institutional investor recently raised its position in Tandem Diabetes Care stock. Russell Investments Group Ltd. raised its stake in shares of Tandem Diabetes Care (NASDAQ:TNDM) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 659,993 shares of the medical device company’s stock after acquiring 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. 8.74% of the stock is currently owned by institutional investors.

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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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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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