Zacks Investment Research upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a hold rating to a buy rating in a report published on Saturday morning. The firm currently has $2.75 target price on the medical device company’s stock.

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. “

TNDM has been the topic of several other reports. Robert W. Baird reiterated a hold rating and set a $3.00 target price on shares of Tandem Diabetes Care in a report on Sunday, November 19th. Wedbush reiterated an outperform rating and set a $17.00 target price (down from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies reiterated a hold rating and set a $15.00 target price on shares of Tandem Diabetes Care in a report on Friday, October 6th. 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 a consensus rating of Hold and an average price target of $11.29.

Tandem Diabetes Care (NASDAQ TNDM) opened at $3.11 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.90 and a debt-to-equity ratio of -2.70. The company has a market cap of $31.47, a PE ratio of -0.16 and a beta of 0.17. Tandem Diabetes Care has a 1-year low of $2.15 and a 1-year high of $30.00.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.74) by $0.65. The business had revenue of $27.00 million for the quarter, compared to the consensus estimate of $25.92 million. During the same quarter in the previous year, the company earned ($0.97) earnings per share. The firm’s revenue was up 119.7% on a year-over-year basis. research analysts predict that Tandem Diabetes Care will post -15.37 EPS for the current year.

In other news, CEO Kim D. Blickenstaff purchased 285,700 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was acquired at an average cost of $3.50 per share, with a total value of $999,950.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position 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 purchasing an additional 32,991 shares during the last quarter. Keybank National Association OH raised its position 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 purchasing an additional 72,177 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Tandem Diabetes Care by 13.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock valued at $482,000 after purchasing an additional 78,748 shares during the last quarter. Finally, Wedbush Securities Inc. raised its position in shares of 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 valued at $138,000 after purchasing an additional 88,709 shares during 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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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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