Tandem Diabetes Care (NASDAQ:TNDM) Hits New 12-Month Low at $53.51

Tandem Diabetes Care, Inc. (NASDAQ:TNDMGet Rating)’s stock price hit a new 52-week low on Thursday . The company traded as low as $53.51 and last traded at $53.72, with a volume of 3627 shares traded. The stock had previously closed at $57.17.

A number of equities analysts have weighed in on the company. Citigroup decreased their target price on Tandem Diabetes Care from $155.00 to $130.00 in a research report on Tuesday, May 17th. Wells Fargo & Company boosted their price objective on Tandem Diabetes Care from $160.00 to $166.00 and gave the company an “overweight” rating in a research note on Wednesday, February 23rd. Bank of America began coverage on shares of Tandem Diabetes Care in a research report on Wednesday, March 2nd. They set a “neutral” rating and a $130.00 price objective on the stock. StockNews.com raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Wednesday, June 1st. Finally, TheStreet lowered shares of Tandem Diabetes Care from a “c-” rating to a “d+” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $143.00.

The firm has a market cap of $3.40 billion, a PE ratio of 662.71 and a beta of 0.69. The business has a 50 day simple moving average of $84.21 and a two-hundred day simple moving average of $109.73. The company has a quick ratio of 5.60, a current ratio of 6.21 and a debt-to-equity ratio of 0.64.

Tandem Diabetes Care (NASDAQ:TNDMGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The medical device company reported ($0.23) earnings per share for the quarter. The company had revenue of $175.91 million for the quarter, compared to the consensus estimate of $168.21 million. Tandem Diabetes Care had a net margin of 0.80% and a return on equity of 1.64%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) EPS. Equities analysts forecast that Tandem Diabetes Care, Inc. will post 0.35 earnings per share for the current year.

In related news, Director Christopher J. Twomey sold 248 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $111.73, for a total value of $27,709.04. Following the completion of the transaction, the director now owns 5,112 shares of the company’s stock, valued at $571,163.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rebecca B. Robertson sold 1,500 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $96.73, for a total value of $145,095.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 5,000 shares of company stock valued at $361,270 and have sold 22,607 shares valued at $1,829,208. Insiders own 2.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Byrne Asset Management LLC acquired a new stake in shares of Tandem Diabetes Care in the fourth quarter worth $34,000. Exane Derivatives acquired a new stake in Tandem Diabetes Care during the first quarter worth about $33,000. CI Investments Inc. raised its position in Tandem Diabetes Care by 10,566.7% during the first quarter. CI Investments Inc. now owns 320 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 317 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in Tandem Diabetes Care in the fourth quarter valued at approximately $48,000. Finally, Sandy Cove Advisors LLC purchased a new stake in Tandem Diabetes Care in the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

About Tandem Diabetes Care (NASDAQ:TNDM)

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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