Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up to $65.98

Tandem Diabetes Care Inc (NASDAQ:TNDM) shares gapped up prior to trading on Thursday . The stock had previously closed at $63.31, but opened at $65.98. Tandem Diabetes Care shares last traded at $67.11, with a volume of 2,699,375 shares changing hands.

A number of equities analysts recently issued reports on the stock. BidaskClub lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Craig Hallum increased their target price on shares of 1-800-Flowers.Com from $26.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Leerink Swann assumed coverage on shares of Turning Point Therapeutics in a research report on Monday, May 13th. They issued an “outperform” rating and a $42.00 target price for the company. Finally, Svb Leerink assumed coverage on shares of Hookipa Pharma in a research report on Monday, May 13th. They issued an “outperform” rating and a $20.00 target price for the company. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $68.13.

The company has a current ratio of 2.43, a quick ratio of 2.13 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $66.09. The firm has a market cap of $3.90 billion, a P/E ratio of -26.32 and a beta of 0.42.



Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Tuesday, April 30th. The medical device company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.10). Tandem Diabetes Care had a negative net margin of 50.73% and a negative return on equity of 40.76%. The business had revenue of $66.00 million for the quarter, compared to the consensus estimate of $47.55 million. During the same quarter last year, the business posted ($1.82) EPS. The business’s revenue for the quarter was up 141.9% on a year-over-year basis. Equities analysts expect that Tandem Diabetes Care Inc will post -0.81 earnings per share for the current year.

In other news, CFO Leigh Vosseller sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $65.14, for a total transaction of $651,400.00. Following the completion of the transaction, the chief financial officer now owns 12,009 shares in the company, valued at approximately $782,266.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David B. Berger sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $63.09, for a total transaction of $126,180.00. Following the transaction, the executive vice president now owns 3,765 shares of the company’s stock, valued at approximately $237,533.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,688 shares of company stock valued at $5,288,238. Insiders own 6.90% of the company’s stock.

Large investors have recently bought and sold shares of the company. First Trust Advisors LP bought a new position in Tandem Diabetes Care in the fourth quarter worth approximately $3,037,000. PNC Financial Services Group Inc. purchased a new position in Tandem Diabetes Care in the fourth quarter worth $44,000. California Public Employees Retirement System grew its holdings in Tandem Diabetes Care by 247.8% in the fourth quarter. California Public Employees Retirement System now owns 98,246 shares of the medical device company’s stock worth $3,730,000 after purchasing an additional 70,000 shares during the last quarter. BlackRock Inc. grew its holdings in Tandem Diabetes Care by 7.5% in the fourth quarter. BlackRock Inc. now owns 4,201,695 shares of the medical device company’s stock worth $159,538,000 after purchasing an additional 292,389 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Tandem Diabetes Care by 18.6% in the fourth quarter. Bank of New York Mellon Corp now owns 250,256 shares of the medical device company’s stock worth $9,502,000 after purchasing an additional 39,264 shares during the last quarter. Institutional investors own 80.47% 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. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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