Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) fell 8.4% on Monday . The stock traded as low as $2.86 and last traded at $2.74. 902,551 shares were traded during mid-day trading, a decline of 37% from the average session volume of 1,437,110 shares. The stock had previously closed at $2.99.

Several research firms recently weighed in on TNDM. Zacks Investment Research downgraded Tandem Diabetes Care from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies restated a “hold” rating and issued a $15.00 price objective on shares of Tandem Diabetes Care in a report on Friday, October 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $17.00 target price (down from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Tandem Diabetes Care has an average rating of “Hold” and a consensus price target of $29.31.

The company has a 50-day moving average price of $6.59 and a 200 day moving average price of $7.73. The stock’s market capitalization is $124.57 million.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.80) by $0.40. The business had revenue of $21.30 million during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the business posted ($6.00) EPS. Analysts predict that Tandem Diabetes Care, Inc. will post ($17.35) EPS for the current fiscal year.

In related news, CEO Kim D. Blickenstaff acquired 285,700 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was acquired at an average price of $3.50 per share, for a total transaction of $999,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 20.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Iguana Healthcare Management LLC boosted its stake in shares of Tandem Diabetes Care by 33.3% in the 1st quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock valued at $120,000 after buying an additional 25,000 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Tandem Diabetes Care by 93.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after buying an additional 280,551 shares during the period. Bank of America Corp DE boosted its stake in shares of Tandem Diabetes Care by 88.6% in the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after buying an additional 404,452 shares during the period. Keybank National Association OH boosted its stake in shares of Tandem Diabetes Care by 32.7% in the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after buying an additional 72,177 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Tandem Diabetes Care by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after buying an additional 32,991 shares during the period.

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Tandem Diabetes Care Company Profile

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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