Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating)'s stock price gapped down before the market opened on Thursday after Lake Street Capital lowered their price target on the stock from $200.00 to $150.00. The stock had previously closed at $68.97, but opened at $62.00. Tandem Diabetes Care shares last traded at $59.97, with a volume of 23,472 shares traded.

Other equities research analysts have also issued research reports about the stock. Cowen dropped their price objective on shares of Tandem Diabetes Care from $141.00 to $107.00 in a research report on Thursday. Wells Fargo & Company dropped their price objective on shares of Tandem Diabetes Care from $166.00 to $82.00 and set an "overweight" rating for the company in a research report on Thursday. Raymond James dropped their price objective on shares of Tandem Diabetes Care from $125.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday. SVB Leerink reaffirmed a "market perform" rating on shares of Tandem Diabetes Care in a report on Monday, April 18th. Finally, StockNews.com lowered shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Friday, July 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.36.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,762 shares of the stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $92.91, for a total transaction of $999,897.42. Following the transaction, the director now directly owns 205,190 shares in the company, valued at approximately $19,064,202.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Leigh Vosseller acquired 500 shares of Tandem Diabetes Care stock in a transaction on Monday, May 9th. The shares were purchased at an average cost of $70.00 per share, for a total transaction of $35,000.00. Following the purchase, the chief financial officer now directly owns 9,118 shares of the company's stock, valued at approximately $638,260. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim D. Blickenstaff sold 10,762 shares of the stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $92.91, for a total transaction of $999,897.42. Following the transaction, the director now owns 205,190 shares in the company, valued at $19,064,202.90. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Tandem Diabetes Care Stock Performance

The stock's 50-day moving average price is $61.21 and its 200-day moving average price is $90.40. The company has a current ratio of 6.21, a quick ratio of 5.60 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $3.75 billion, a P/E ratio of 732.59 and a beta of 0.80.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The medical device company reported ($0.23) earnings per share for the quarter. The firm had revenue of $175.91 million during the quarter, compared to the consensus estimate of $168.21 million. Tandem Diabetes Care had a net margin of 0.80% and a return on equity of 1.64%. The company's revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share. As a group, equities analysts expect that Tandem Diabetes Care, Inc. will post 0.35 EPS for the current year.

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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