Tandem Diabetes Care (NASDAQ:TNDM) Reaches New 12-Month Low at $43.98

Tandem Diabetes Care, Inc. (NASDAQ:TNDMGet Rating)’s share price reached a new 52-week low on Thursday . The stock traded as low as $43.98 and last traded at $44.08, with a volume of 1507 shares. The stock had previously closed at $45.74.

Analyst Ratings Changes

Several equities analysts have weighed in on TNDM shares. StockNews.com downgraded Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Friday, July 1st. Wells Fargo & Company cut Tandem Diabetes Care from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $82.00 to $49.00 in a report on Tuesday, August 9th. Robert W. Baird decreased their price objective on Tandem Diabetes Care to $76.00 in a report on Tuesday, August 9th. TheStreet cut Tandem Diabetes Care from a “c-” rating to a “d+” rating in a report on Monday, June 13th. Finally, Lake Street Capital decreased their price objective on Tandem Diabetes Care from $200.00 to $150.00 in a report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $103.36.

Tandem Diabetes Care Stock Up 0.3 %

The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -202.77 and a beta of 0.80. The company has a quick ratio of 5.36, a current ratio of 6.00 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average of $57.28 and a two-hundred day moving average of $81.30.

Insider Activity at Tandem Diabetes Care

In related news, COO David B. Berger sold 10,097 shares of Tandem Diabetes Care stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $65.02, for a total value of $656,506.94. Following the transaction, the chief operating officer now owns 2,457 shares in the company, valued at $159,754.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in Tandem Diabetes Care by 358.3% in the second quarter. Fifth Third Bancorp now owns 440 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 344 shares during the period. Quadrant Capital Group LLC raised its position in Tandem Diabetes Care by 244.7% in the second quarter. Quadrant Capital Group LLC now owns 517 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 367 shares during the period. Exane Derivatives purchased a new position in Tandem Diabetes Care in the first quarter valued at about $33,000. Byrne Asset Management LLC purchased a new position in Tandem Diabetes Care in the fourth quarter valued at about $34,000. Finally, CI Investments Inc. raised its position in Tandem Diabetes Care by 10,566.7% in the first quarter. CI Investments Inc. now owns 320 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 317 shares during the period. 95.28% of the stock is owned by hedge funds and other institutional investors.

Tandem Diabetes Care Company Profile

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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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