Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
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. “
TNDM has been the topic of several other research reports. Wedbush reissued 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. Piper Jaffray Companies reissued a “hold” rating and set a $15.00 target price on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Finally, Robert W. Baird reissued a “hold” rating and set a $3.00 target price on shares of Tandem Diabetes Care in a research report on Sunday, November 19th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.29.
Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share for the quarter, topping the consensus estimate of ($3.74) by $0.65. The company had revenue of $27.00 million for the quarter, compared to analysts’ expectations of $25.92 million. The firm’s revenue for the quarter was up 119.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.97) EPS. equities research analysts expect that Tandem Diabetes Care will post -15.37 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in TNDM. Wedbush Securities Inc. grew its position 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 purchasing an additional 88,709 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of 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 during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 during 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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