Tandem Diabetes Care Inc (TNDM) Short Interest Update
Tandem Diabetes Care Inc (NASDAQ:TNDM) saw a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 741,553 shares, a decline of 30.1% from the January 31st total of 1,061,309 shares. Based on an average daily trading volume, of 1,039,643 shares, the days-to-cover ratio is presently 0.7 days. Currently, 2.3% of the shares of the company are short sold.
Several analysts recently issued reports on the stock. Stifel Nicolaus restated a “hold” rating and set a $4.00 target price on shares of Tandem Diabetes Care in a research report on Friday. Citigroup began coverage on shares of Tandem Diabetes Care in a report on Tuesday, February 27th. They set an “outperform” rating and a $5.50 price target on the stock. ValuEngine downgraded shares of Tandem Diabetes Care from a “sell” rating to a “strong sell” rating in a report on Thursday. Cowen reaffirmed a “hold” rating on shares of Tandem Diabetes Care in a report on Tuesday, February 27th. Finally, Oppenheimer began coverage on shares of Tandem Diabetes Care in a report on Monday, February 26th. They set a “buy” rating and a $6.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.25.
Tandem Diabetes Care (NASDAQ:TNDM) opened at $3.89 on Monday. The company has a current ratio of 1.90, a quick ratio of 0.88 and a debt-to-equity ratio of -2.70. Tandem Diabetes Care has a 1-year low of $2.14 and a 1-year high of $25.00. The firm has a market cap of $39.36, a P/E ratio of -0.18 and a beta of 0.20.
In other Tandem Diabetes Care news, Director Christopher J. Twomey bought 75,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average cost of $2.00 per share, for a total transaction of $150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kim D. Blickenstaff bought 750,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $2.00 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. Insiders own 20.90% of the company’s stock.
A number of large investors have recently modified their holdings of TNDM. Wedbush Securities Inc. lifted its holdings in Tandem Diabetes Care by 88.6% during the third quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock valued at $138,000 after purchasing an additional 88,709 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Tandem Diabetes Care by 13.5% in the third quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock worth $482,000 after buying an additional 78,748 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 2.7% in the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after buying an additional 32,991 shares in the last quarter.
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About Tandem Diabetes Care
Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).
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