Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $24.35 Average Target Price from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have received a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $24.3529.

A number of equities analysts have issued reports on the company. TD Cowen initiated coverage on Tandem Diabetes Care in a research note on Tuesday, January 27th. They set a “buy” rating and a $25.00 price target for the company. Canaccord Genuity Group set a $35.00 target price on Tandem Diabetes Care and gave the company a “buy” rating in a research note on Wednesday, December 17th. Morgan Stanley set a $23.00 target price on Tandem Diabetes Care and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday, December 17th. Finally, Mizuho raised their price objective on shares of Tandem Diabetes Care from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its holdings in shares of Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after acquiring an additional 1,470 shares during the last quarter. CWM LLC boosted its position in shares of Tandem Diabetes Care by 262.6% in the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after purchasing an additional 2,025 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of Tandem Diabetes Care by 36.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 909 shares during the period. Farther Finance Advisors LLC increased its stake in Tandem Diabetes Care by 36.6% in the 4th quarter. Farther Finance Advisors LLC now owns 3,600 shares of the medical device company’s stock worth $79,000 after purchasing an additional 965 shares in the last quarter. Finally, Quarry LP raised its holdings in Tandem Diabetes Care by 2,597.1% during the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after buying an additional 3,558 shares during the period.

Tandem Diabetes Care Price Performance

Shares of TNDM opened at $19.17 on Thursday. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $37.35. The stock’s fifty day moving average is $21.14 and its 200-day moving average is $16.77. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -6.29 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The firm had revenue of $249.25 million during the quarter, compared to analyst estimates of $235.80 million. During the same quarter in the prior year, the firm posted ($0.35) EPS. Tandem Diabetes Care’s revenue was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.