Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) traded up 18.9% during trading on Friday . The stock traded as high as $0.63 and last traded at $0.63. 1,275,958 shares traded hands during trading, an increase of 0% from the average session volume of 1,271,940 shares. The stock had previously closed at $0.53.

Separately, Zacks Investment Research lowered Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.71.

The firm’s market cap is $31.64 million. The company’s 50 day moving average is $0.61 and its 200 day moving average is $0.99.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.04. The business had revenue of $21.30 million during the quarter, compared to the consensus estimate of $21.74 million. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 110.70%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.60) EPS. On average, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post ($1.79) EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Iguana Healthcare Management LLC raised its stake in shares of Tandem Diabetes Care by 33.3% during the 1st quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after buying an additional 25,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tandem Diabetes Care by 2.7% during the 2nd 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. Keybank National Association OH raised its stake in shares of Tandem Diabetes Care by 32.7% during the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after buying an additional 72,177 shares in the last quarter. Monashee Investment Management LLC purchased a new position in shares of Tandem Diabetes Care during the 1st quarter worth approximately $180,000. Finally, Group One Trading L.P. purchased a new position in shares of Tandem Diabetes Care during the 1st quarter worth approximately $185,000. 36.71% of the stock is owned by institutional investors and hedge funds.

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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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