Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

Several other equities analysts have also recently issued reports on TNDM. Wedbush restated an “outperform” rating and issued a $17.00 price target (down from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Robert W. Baird reaffirmed a “hold” rating and issued a $3.00 price objective on shares of Tandem Diabetes Care in a research note on Sunday, November 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.29.

Tandem Diabetes Care (NASDAQ TNDM) traded up $0.03 during midday trading on Wednesday, reaching $2.51. 368,000 shares of the company’s stock were exchanged, compared to its average volume of 201,210. 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 52-week low of $2.15 and a 52-week high of $30.00.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.74) by $0.65. Tandem Diabetes Care had a negative net margin of 79.45% and a negative return on equity of 1,177.11%. The company had revenue of $27.00 million during the quarter, compared to the consensus estimate of $25.92 million. During the same quarter in the prior year, the firm posted ($0.97) EPS. The firm’s quarterly revenue was up 119.7% on a year-over-year basis. research analysts forecast that Tandem Diabetes Care will post -15.37 EPS for the current fiscal year.

In other news, CEO Kim D. Blickenstaff bought 285,700 shares of the stock in a transaction dated Friday, October 13th. The stock was bought at an average price of $3.50 per share, for a total transaction of $999,950.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 20.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in Tandem Diabetes Care by 13.5% during the third quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock worth $482,000 after buying an additional 78,748 shares during the last quarter. Wedbush Securities Inc. increased its holdings in 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 worth $138,000 after buying an additional 88,709 shares during the last quarter. Vanguard Group Inc. increased its holdings in 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 worth $987,000 after buying an additional 32,991 shares during the last quarter. Keybank National Association OH increased its holdings in 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 worth $235,000 after buying an additional 72,177 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Tandem Diabetes Care by 88.6% during the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after buying an additional 404,452 shares during the last quarter.

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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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