Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $29.84

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been assigned a consensus rating of “Hold” from the twenty-one brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $29.8421.

Several brokerages recently commented on TNDM. Lake Street Capital raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Monday, February 23rd. Piper Sandler upgraded shares of Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $21.00 to $33.00 in a research note on Tuesday, March 17th. Bank of America cut their price target on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Wells Fargo & Company raised shares of Tandem Diabetes Care from a “buy” rating to an “overweight” rating and raised their price target for the company from $21.00 to $27.00 in a research report on Monday, June 1st. Finally, The Goldman Sachs Group set a $21.00 price objective on Tandem Diabetes Care in a research report on Wednesday, May 27th.

Tandem Diabetes Care Stock Down 0.5%

Shares of TNDM traded down $0.09 during mid-day trading on Wednesday, reaching $16.61. The company had a trading volume of 88,619 shares, compared to its average volume of 2,171,312. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -11.87 and a beta of 1.58. The firm has a 50-day moving average price of $17.67 and a 200 day moving average price of $20.18. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.16. The company had revenue of $247.22 million during the quarter, compared to analyst estimates of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.66) EPS. On average, sell-side analysts forecast that Tandem Diabetes Care will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TNDM. Vanguard Group Inc. lifted its stake in Tandem Diabetes Care by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after acquiring an additional 278,042 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Tandem Diabetes Care during the third quarter valued at approximately $513,000. Royce & Associates LP bought a new position in Tandem Diabetes Care during the third quarter valued at approximately $6,191,000. Jennison Associates LLC boosted its holdings in Tandem Diabetes Care by 42.3% in the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after purchasing an additional 601,260 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Tandem Diabetes Care in the fourth quarter worth approximately $26,988,000.

About Tandem Diabetes Care

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.