Tandem Diabetes Care Inc (NASDAQ:TNDM) shares fell 7.5% during trading on Thursday . The company traded as low as $42.22 and last traded at $42.79. 5,566,000 shares traded hands during trading, an increase of 126% from the average session volume of 2,464,849 shares. The stock had previously closed at $46.27.

A number of brokerages have recently commented on TNDM. Dougherty & Co increased their price objective on Tandem Diabetes Care from $45.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. Oppenheimer reissued a “buy” rating and set a $57.00 price objective on shares of Tandem Diabetes Care in a report on Tuesday. Piper Jaffray Companies reissued an “overweight” rating and set a $56.00 price objective (up previously from $32.00) on shares of Tandem Diabetes Care in a report on Wednesday. MED increased their price objective on Tandem Diabetes Care from $15.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, June 18th. Finally, Lake Street Capital began coverage on Tandem Diabetes Care in a report on Monday, June 18th. They set a “buy” rating and a $30.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Tandem Diabetes Care presently has an average rating of “Buy” and an average price target of $39.73.

The company has a debt-to-equity ratio of 2.97, a current ratio of 3.02 and a quick ratio of 2.43. The firm has a market cap of $2.54 billion, a P/E ratio of -3.32 and a beta of 0.35.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Monday, July 30th. The medical device company reported ($1.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.82). The business had revenue of $34.10 million during the quarter, compared to analysts’ expectations of $29.68 million. The firm’s revenue was up 60.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.44) earnings per share. equities research analysts anticipate that Tandem Diabetes Care Inc will post -1.44 earnings per share for the current year.

In other Tandem Diabetes Care news, Director Richard P. Valencia bought 1,754 shares of the stock in a transaction on Friday, August 3rd. The shares were purchased at an average price of $28.50 per share, with a total value of $49,989.00. Following the acquisition, the director now directly owns 1,754 shares of the company’s stock, valued at approximately $49,989. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TNDM. Gabelli Funds LLC acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at approximately $102,000. Cetera Advisor Networks LLC acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at approximately $117,000. Legal & General Group Plc acquired a new stake in Tandem Diabetes Care in the 2nd quarter valued at approximately $147,000. Element Capital Management LLC acquired a new stake in shares of Tandem Diabetes Care during the 1st quarter worth approximately $184,000. Finally, A.R.T. Advisors LLC grew its holdings in shares of Tandem Diabetes Care by 284.4% during the 1st quarter. A.R.T. Advisors LLC now owns 38,518 shares of the medical device company’s stock worth $191,000 after purchasing an additional 28,499 shares in the last quarter. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

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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