Tandem Diabetes Care (NASDAQ:TNDM) Upgraded at Zacks Investment Research

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, January 6th. The brokerage presently has a $2.75 price target on the medical device company’s stock. Zacks Investment Research‘s price objective suggests a potential downside of 15.12% from the stock’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 have also recently weighed in on TNDM. Wedbush reissued an “outperform” rating and issued a $17.00 price objective (down from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $15.00 price target on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $3.00 price target on shares of Tandem Diabetes Care in a research report on Sunday, November 19th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Tandem Diabetes Care has a consensus rating of “Hold” and an average target price of $11.29.

Shares of Tandem Diabetes Care (NASDAQ:TNDM) traded down $0.11 on Friday, reaching $3.24. The firm has a market capitalization of $32.78, a price-to-earnings ratio of -0.16 and a beta of 0.17. The company has a current ratio of 1.90, a quick ratio of 0.88 and a debt-to-equity ratio of -2.70. Tandem Diabetes Care has a fifty-two week low of $2.15 and a fifty-two week high of $30.00.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.74) by $0.65. The company had revenue of $27.00 million during the quarter, compared to analyst estimates of $25.92 million. The firm’s revenue for the quarter was up 119.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.97) earnings per share. equities research analysts anticipate that Tandem Diabetes Care will post -15.37 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in shares of Tandem Diabetes Care by 93.3% in the second quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after purchasing an additional 280,551 shares during the period. Keybank National Association OH increased its stake in shares of 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 valued at $235,000 after acquiring an additional 72,177 shares during the period. Wedbush Securities Inc. increased its stake in shares of Tandem Diabetes Care by 88.6% during the third quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock valued at $138,000 after acquiring an additional 88,709 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after acquiring an additional 32,991 shares during the period.

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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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