Tandem Diabetes Care Inc (TNDM) Given Average Recommendation of “Hold” by Brokerages
Tandem Diabetes Care Inc (NASDAQ:TNDM) has earned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $11.29.
Several brokerages have recently commented on TNDM. Zacks Investment Research upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Saturday. Wedbush reiterated an “outperform” rating and set a $17.00 target price (down from $50.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 10th. Piper Jaffray Companies reiterated a “hold” rating and set a $15.00 target price on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Finally, Robert W. Baird restated a “hold” rating and issued a $3.00 price target on shares of Tandem Diabetes Care in a research note on Sunday, November 19th.
Tandem Diabetes Care (TNDM) opened at $2.52 on Monday. The company has a debt-to-equity ratio of -2.70, a current ratio of 1.90 and a quick ratio of 0.88. The firm has a market capitalization of $25.50, a P/E ratio of -0.13 and a beta of 0.17. Tandem Diabetes Care has a one year low of $2.15 and a one year high of $30.00.
In other news, CEO Kim D. Blickenstaff purchased 285,700 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, October 13th. The stock was acquired at an average cost of $3.50 per share, for a total transaction of $999,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 20.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in Tandem Diabetes Care by 13.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock valued at $482,000 after acquiring an additional 78,748 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Tandem Diabetes Care by 88.6% in the 3rd 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 in the last quarter. Vanguard Group Inc. raised its holdings in Tandem Diabetes Care by 2.7% in the 2nd 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 in the last quarter. Finally, Keybank National Association OH raised its holdings in Tandem Diabetes Care by 32.7% in the 2nd 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 in the last quarter.
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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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