Tandem Diabetes Care (TNDM) Stock Price Up 11.9%
Tandem Diabetes Care Inc (NASDAQ:TNDM) shares rose 11.9% during trading on Tuesday . The stock traded as high as $2.75 and last traded at $2.72. Approximately 1,614,859 shares traded hands during mid-day trading, an increase of 66% from the average daily volume of 970,928 shares. The stock had previously closed at $2.43.
TNDM has been the topic of several research reports. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a report on Wednesday, December 6th. Robert W. Baird restated a “hold” rating and issued a $3.00 price target on shares of Tandem Diabetes Care in a report on Sunday, November 19th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus price target 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 firm has a market cap of $97.49, a PE ratio of -0.12 and a beta of 0.44.
Large investors have recently modified their holdings of the business. Wedbush Securities Inc. grew its position in Tandem Diabetes Care by 88.6% in 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. Russell Investments Group Ltd. grew its position in Tandem Diabetes Care by 13.5% in 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. Finally, Vanguard Group Inc. grew its position in Tandem Diabetes Care by 2.7% in 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.
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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