Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get 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.
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.
- Get a free copy of the StockNews.com research report on Tandem Diabetes Care (TNDM)
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