Tandem Diabetes Care, Inc. (TNDM) Trading Down 3.6%

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) were down 3.6% during trading on Monday . The stock traded as low as $0.56 and last traded at $0.58. Approximately 595,462 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,268,530 shares. The stock had previously closed at $0.56.

Separately, Zacks Investment Research cut shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $4.71.

The company’s market capitalization is $28.50 million. The company’s 50 day moving average is $0.62 and its 200 day moving average is $1.01.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.04. The firm had revenue of $21.30 million during the quarter, compared to analyst estimates of $21.74 million. Tandem Diabetes Care had a negative net margin of 110.70% and a negative return on equity of 1,177.11%. Tandem Diabetes Care’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.60) EPS. On average, equities analysts forecast that Tandem Diabetes Care, Inc. will post ($1.79) EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC grew its position in Tandem Diabetes Care by 348.5% in the 1st quarter. Frontier Capital Management Co. LLC now owns 4,901,870 shares of the medical device company’s stock valued at $5,882,000 after buying an additional 3,808,950 shares in the last quarter. Vanguard Group Inc. grew its position in 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 buying an additional 32,991 shares in the last quarter. Bank of America Corp DE grew its position in Tandem Diabetes Care by 88.6% in the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after buying an additional 404,452 shares in the last quarter. Russell Investments Group Ltd. grew its position in Tandem Diabetes Care by 93.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after buying an additional 280,551 shares in the last quarter. Finally, Paulson & CO. Inc. bought a new position in Tandem Diabetes Care in the 1st quarter valued at about $600,000. Hedge funds and other institutional investors own 36.71% of the company’s stock.

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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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