Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Tandem Diabetes Care, Inc. is a medical device company. The Company designs, develops, and commercializes products for people with insulin-dependent diabetes. Its products include t:slim Insulin Delivery System. Tandem Diabetes Care, Inc. is headquartered in San Diego, California. “

Other analysts have also recently issued research reports about the stock. Piper Jaffray Companies restated a “hold” rating and set a $15.00 price objective on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Robert W. Baird restated a “hold” rating and set a $3.00 price objective on shares of Tandem Diabetes Care in a research report on Sunday, November 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $17.00 target price (down previously from $50.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus target price of $11.29.

Shares of Tandem Diabetes Care (NASDAQ TNDM) opened at $2.51 on Wednesday. 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 52-week low of $2.15 and a 52-week high of $30.00.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, October 26th. The medical device company reported ($3.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.74) by $0.65. The firm had revenue of $27.00 million for the quarter, compared to analysts’ expectations of $25.92 million. Tandem Diabetes Care had a negative net margin of 79.45% and a negative return on equity of 1,177.11%. The business’s quarterly revenue was up 119.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.97) EPS. equities analysts forecast that Tandem Diabetes Care will post -15.37 earnings per share for the current year.

In other Tandem Diabetes Care news, CEO Kim D. Blickenstaff bought 285,700 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were bought at an average price of $3.50 per share, for a total transaction of $999,950.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.90% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Wedbush Securities Inc. raised its position in Tandem Diabetes Care by 88.6% in the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after purchasing an additional 88,709 shares during the period. Keybank National Association OH raised its position in 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 worth $235,000 after purchasing an additional 72,177 shares during the period. Russell Investments Group Ltd. raised its position in 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 worth $465,000 after purchasing an additional 280,551 shares during the period. Bank of America Corp DE raised its position in 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 worth $1,032,000 after purchasing an additional 404,452 shares during the period. Finally, Vanguard Group Inc. raised its position in 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 worth $987,000 after purchasing 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).

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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