Tandem Diabetes Care, Inc. (TNDM) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) from a buy rating to a hold rating in a research note released on Thursday, November 2nd.

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. “

Other research analysts also recently issued research reports about the stock. Piper Jaffray Companies reissued a hold rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Wedbush reiterated an outperform rating and set a $17.00 target price (down previously from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $12.95.

Tandem Diabetes Care (NASDAQ:TNDM) traded up $0.23 on Thursday, reaching $2.97. The company’s stock had a trading volume of 811,800 shares, compared to its average volume of 193,845. The company has a quick ratio of 0.88, a current ratio of 1.90 and a debt-to-equity ratio of -2.70. Tandem Diabetes Care has a 12-month low of $2.15 and a 12-month high of $32.50.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.74) by $0.65. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 79.45%. The company had revenue of $27.00 million for the quarter, compared to analysts’ expectations of $25.92 million. During the same quarter in the prior year, the company earned ($0.97) earnings per share. The firm’s revenue was up 119.7% on a year-over-year basis. equities research analysts expect that Tandem Diabetes Care will post -15.71 earnings per share for the current fiscal year.

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In related news, CEO Kim D. Blickenstaff acquired 285,700 shares of Tandem Diabetes Care stock in a transaction on Friday, October 13th. The stock was purchased at an average cost of $3.50 per share, with a total value of $999,950.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 20.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in shares of Tandem Diabetes Care by 88.6% during the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after acquiring an additional 404,452 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at approximately $360,000. Wedbush Securities Inc. grew its holdings in Tandem Diabetes Care by 88.6% during the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after acquiring an additional 88,709 shares during the last quarter. Keybank National Association OH grew its holdings in Tandem Diabetes Care by 32.7% during the 2nd 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 last quarter. Finally, Vanguard Group Inc. grew its holdings in Tandem Diabetes Care by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after acquiring an additional 32,991 shares during the last quarter.

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).

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