Tandem Diabetes Care, Inc. (NASDAQ:TNDM) – Stock analysts at Wedbush cut their Q3 2017 earnings per share estimates for Tandem Diabetes Care in a research report issued to clients and investors on Wednesday. Wedbush analyst Levy. T now anticipates that the medical device company will earn ($3.82) per share for the quarter, down from their previous estimate of ($3.80). Wedbush has a “Outperform” rating and a $17.00 price target on the stock. Wedbush also issued estimates for Tandem Diabetes Care’s Q4 2017 earnings at ($2.81) EPS, FY2017 earnings at ($18.67) EPS, FY2018 earnings at ($4.71) EPS and FY2019 earnings at ($1.81) EPS.
TNDM has been the subject of several other research reports. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a report on Thursday, September 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $15.00 target price on shares of Tandem Diabetes Care in a report on Friday, October 6th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $29.31.
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Tandem Diabetes Care (TNDM) opened at 4.68 on Friday. The company’s market cap is $235.07 million. The company has a 50-day moving average price of $6.71 and a 200 day moving average price of $7.85. Tandem Diabetes Care has a 52 week low of $3.90 and a 52 week high of $70.70.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.80) by $0.40. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 110.70%. The company had revenue of $21.30 million for the quarter, compared to analysts’ expectations of $21.74 million. During the same quarter in the prior year, the firm earned ($6.00) earnings per share. Tandem Diabetes Care’s revenue was down 7.4% compared to the same quarter last year.
Large investors have recently bought and sold shares of the business. Iguana Healthcare Management LLC grew its stake in shares of Tandem Diabetes Care by 33.3% in the first quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after acquiring an additional 25,000 shares in the last quarter. Keybank National Association OH grew its stake in shares of Tandem Diabetes Care by 32.7% in the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after acquiring an additional 72,177 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Tandem Diabetes Care in the first quarter worth $360,000. Paulson & CO. Inc. acquired a new position in shares of Tandem Diabetes Care in the first quarter worth $600,000. Finally, Vanguard Group Inc. grew its stake in shares of 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 worth $987,000 after acquiring an additional 32,991 shares in the last quarter. Institutional investors and hedge funds own 36.64% of the company’s stock.
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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