Several other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Tandem Diabetes Care from a hold rating to a buy rating and set a $2.75 price target for the company in a research note on Wednesday, December 6th. Citigroup initiated coverage on shares of Tandem Diabetes Care in a research note on Tuesday, February 27th. They issued an outperform rating and a $5.50 price target for the company. ValuEngine downgraded shares of Tandem Diabetes Care from a sell rating to a strong sell rating in a research note on Thursday, March 1st. Stifel Nicolaus reissued a hold rating and issued a $4.00 price target on shares of Tandem Diabetes Care in a research note on Friday, March 2nd. Finally, Cowen reissued a hold rating on shares of Tandem Diabetes Care in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Tandem Diabetes Care presently has an average rating of Hold and an average target price of $9.42.
Tandem Diabetes Care stock traded up $0.26 during trading on Thursday, reaching $4.05. 1,652,831 shares of the company’s stock traded hands, compared to its average volume of 1,214,942. 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 capitalization of $165.39, a P/E ratio of -0.26 and a beta of 0.20. Tandem Diabetes Care has a 1-year low of $2.14 and a 1-year high of $13.00.
In other news, Director Christopher J. Twomey acquired 75,000 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $2.00 per share, with a total value of $150,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kim D. Blickenstaff acquired 750,000 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $2.00 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 850,539 shares of company stock valued at $1,749,091. Insiders own 20.90% of the company’s stock.
An institutional investor recently raised its position in Tandem Diabetes Care stock. Vanguard Group Inc. grew its position in shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,233,607 shares of the medical device company’s stock after acquiring an additional 32,991 shares during the period. Vanguard Group Inc. owned about 2.46% of Tandem Diabetes Care worth $987,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.74% of the company’s stock.
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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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