Tandem Diabetes Care (NASDAQ:TNDM) Sees Strong Trading Volume

Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) saw unusually-strong trading volume on Tuesday . Approximately 2,869,654 shares were traded during mid-day trading, an increase of 75% from the previous session’s volume of 1,643,637 shares.The stock last traded at $61.99 and had previously closed at $56.62.

A number of equities analysts recently issued reports on TNDM shares. ValuEngine downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Oppenheimer increased their price target on shares of Tandem Diabetes Care from $80.00 to $84.00 in a research note on Friday, August 2nd. UBS Group raised shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, October 4th. BidaskClub downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Lake Street Capital reissued a “buy” rating on shares of Tandem Diabetes Care in a research note on Monday, June 17th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $75.25.

The stock’s 50 day simple moving average is $62.60 and its two-hundred day simple moving average is $63.72. The firm has a market cap of $3.32 billion, a P/E ratio of -24.31 and a beta of 0.19. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.53 and a quick ratio of 2.21.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 1st. The medical device company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.20. Tandem Diabetes Care had a negative net margin of 19.55% and a negative return on equity of 19.31%. The business had revenue of $93.26 million during the quarter, compared to the consensus estimate of $69.95 million. During the same quarter last year, the firm earned ($0.33) earnings per share. The business’s revenue for the quarter was up 173.2% on a year-over-year basis. Equities research analysts anticipate that Tandem Diabetes Care Inc will post -0.46 earnings per share for the current year.

In other Tandem Diabetes Care news, Director Howard E. Greene, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $61.50, for a total transaction of $615,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas A. Roeder sold 308,297 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $70.32, for a total transaction of $21,679,445.04. The disclosure for this sale can be found here. Insiders have sold 469,692 shares of company stock valued at $32,862,319 in the last ninety days. Insiders own 6.90% of the company’s stock.

Large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in shares of Tandem Diabetes Care by 53.3% during the second quarter. Nisa Investment Advisors LLC now owns 460 shares of the medical device company’s stock valued at $30,000 after buying an additional 160 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of Tandem Diabetes Care during the second quarter valued at approximately $33,000. James Investment Research Inc. grew its holdings in shares of Tandem Diabetes Care by 15.9% during the second quarter. James Investment Research Inc. now owns 1,315 shares of the medical device company’s stock valued at $85,000 after buying an additional 180 shares during the last quarter. Stephens Inc. AR purchased a new stake in shares of Tandem Diabetes Care during the second quarter valued at approximately $113,000. Finally, Pearl River Capital LLC purchased a new stake in shares of Tandem Diabetes Care during the second quarter valued at approximately $130,000. Hedge funds and other institutional investors own 79.30% 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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