Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s share price traded down 9.6% on Friday after Canaccord Genuity Group lowered their price target on the stock from $57.00 to $56.00. Canaccord Genuity Group currently has a buy rating on the stock. Tandem Diabetes Care traded as low as $30.13 and last traded at $30.13. 2,395,340 shares traded hands during mid-day trading, an increase of 50% from the average session volume of 1,600,117 shares. The stock had previously closed at $33.32.
Several other equities research analysts have also weighed in on TNDM. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday. They issued an "outperform" rating and a $42.00 target price on the stock. Barclays raised their price target on Tandem Diabetes Care from $55.00 to $58.00 and gave the company an "overweight" rating in a report on Monday, August 5th. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a "buy" rating and a $57.00 price objective for the company. Wells Fargo & Company increased their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Finally, Piper Sandler reiterated an "overweight" rating and set a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.25.
View Our Latest Report on Tandem Diabetes Care
Institutional investors have recently modified their holdings of the business. Assetmark Inc. bought a new position in shares of Tandem Diabetes Care in the third quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new stake in shares of Tandem Diabetes Care during the 3rd quarter worth $30,000. ORG Partners LLC bought a new position in Tandem Diabetes Care in the second quarter valued at $31,000. Headlands Technologies LLC bought a new stake in Tandem Diabetes Care during the first quarter worth about $35,000. Finally, Waldron Private Wealth LLC purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter worth about $50,000.
The company has a market capitalization of $1.98 billion, a PE ratio of -15.77 and a beta of 1.36. The stock has a fifty day moving average of $38.99 and a two-hundred day moving average of $41.82. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31.
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.
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