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. It also provides t:slim X2 insulin with Basal-IQ and control IQ technology; t:slim X2 with G5 Integration; and Tandem Device Updater, a tool that allows users to update their pump's software. In addition, the company offers t:connect, a web-based data management application, which provides a visual way to display diabetes therapy management data from the pump, continuous glucose monitoring, and supported blood glucose meters for users, their caregivers, and their healthcare providers; and Sugarmate, a mobile app for people with diabetes who use insulin. It has development and commercialization agreements with Dexcom, Inc. and Abbott Laboratories. The company was formerly known as Phluid Inc. and changed its name to Tandem Diabetes Care, Inc. in January 2008. Tandem Diabetes Care, Inc. was incorporated in 2006 and is headquartered in San Diego, California.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on TNDM shares. Wells Fargo & Company cut shares of Tandem Diabetes Care from an "overweight" rating to an "underweight" rating and cut their price target for the stock from $82.00 to $49.00 in a report on Tuesday, August 9th. Cowen reduced their target price on shares of Tandem Diabetes Care from $141.00 to $107.00 in a research report on Thursday, August 4th. StockNews.com downgraded shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Friday, July 1st. Raymond James dropped their price objective on Tandem Diabetes Care from $125.00 to $90.00 and set an "outperform" rating on the stock in a research note on Thursday, August 4th. Finally, Piper Sandler lowered their target price on Tandem Diabetes Care from $120.00 to $80.00 and set an "overweight" 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 given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $103.36.
Tandem Diabetes Care Stock Down 5.3 %
Shares of NASDAQ:TNDM traded down $2.73 during mid-day trading on Friday, reaching $48.82. 1,079,977 shares of the company were exchanged, compared to its average volume of 786,663. Tandem Diabetes Care has a 1 year low of $48.30 and a 1 year high of $155.86. The firm has a 50-day moving average of $58.97 and a 200 day moving average of $86.00. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -221.91 and a beta of 0.80. The company has a quick ratio of 5.36, a current ratio of 6.00 and a debt-to-equity ratio of 0.63.
Insiders Place Their Bets
In other news, COO David B. Berger sold 10,097 shares of the firm's stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $65.02, for a total value of $656,506.94. Following the sale, the chief operating officer now directly owns 2,457 shares in the company, valued at approximately $159,754.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by corporate insiders.