Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) fell 5.8% during trading on Monday . The stock traded as low as $53.50 and last traded at $53.96. 2,575 shares were traded during trading, a decline of 100% from the average session volume of 850,181 shares. The stock had previously closed at $57.26.
Analyst Upgrades and Downgrades
TNDM has been the topic of several research analyst reports. StockNews.com lowered shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Friday, September 9th. Robert W. Baird reduced their target price on Tandem Diabetes Care to $76.00 in a research note on Tuesday, August 9th. TheStreet lowered Tandem Diabetes Care from a "c-" rating to a "d+" rating in a research report on Monday, June 13th. Cowen cut their price target on Tandem Diabetes Care from $141.00 to $107.00 in a report on Thursday, August 4th. Finally, Raymond James decreased their price objective on Tandem Diabetes Care from $125.00 to $90.00 and set an "outperform" rating for the company in a report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care has a consensus rating of "Hold" and an average price target of $103.36.
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Tandem Diabetes Care Stock Down 4.6 %
The company has a market cap of $3.51 billion, a P/E ratio of -241.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.63, a current ratio of 6.00 and a quick ratio of 5.36. The stock has a fifty day moving average price of $55.02 and a two-hundred day moving average price of $76.13.
Institutional Investors Weigh In On Tandem Diabetes Care
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Byrne Asset Management LLC bought a new stake in shares of Tandem Diabetes Care in the 4th quarter worth $34,000. Exane Derivatives bought a new stake in Tandem Diabetes Care in the 1st quarter worth about $33,000. CI Investments Inc. increased its stake in Tandem Diabetes Care by 10,566.7% in the 1st quarter. CI Investments Inc. now owns 320 shares of the medical device company's stock valued at $37,000 after buying an additional 317 shares during the last quarter. Sandy Cove Advisors LLC bought a new position in shares of Tandem Diabetes Care during the 1st quarter worth approximately $46,000. Finally, KRS Capital Management LLC bought a new position in shares of Tandem Diabetes Care during the 4th quarter worth approximately $60,000. 95.28% of the stock is owned by hedge funds and other institutional investors.
About Tandem Diabetes Care
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Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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