Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) gapped up prior to trading on Thursday . The stock had previously closed at $2.09, but opened at $2.86. Tandem Diabetes Care shares last traded at $3.43, with a volume of 5239800 shares changing hands.

TNDM has been the subject of several recent research reports. Zacks Investment Research upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Wednesday, November 1st. Wedbush reiterated an “outperform” rating and issued a $17.00 price target (down from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 10th. Piper Jaffray Companies reiterated a “hold” rating and issued a $15.00 price target on shares of Tandem Diabetes Care in a report on Friday, October 6th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $3.00 price target on shares of Tandem Diabetes Care in a report on Sunday, November 19th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $11.29.

The company has a debt-to-equity ratio of -2.70, a quick ratio of 0.88 and a current ratio of 1.90. The company has a market cap of $32.78, a P/E ratio of -0.16 and a beta of 0.17.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share for the quarter, beating the consensus estimate of ($3.74) by $0.65. The business had revenue of $27.00 million for the quarter, compared to analyst estimates of $25.92 million. The firm’s revenue was up 119.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.97) earnings per share. sell-side analysts anticipate that Tandem Diabetes Care Inc will post -15.37 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of Tandem Diabetes Care by 13.5% during the third quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock valued at $482,000 after acquiring an additional 78,748 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of 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 acquiring an additional 88,709 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after acquiring an additional 32,991 shares in the last quarter. Finally, Keybank National Association OH grew its stake in shares of Tandem Diabetes Care by 32.7% during the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after acquiring an additional 72,177 shares in the last quarter.

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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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