Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $22.44

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received an average rating of “Hold” from the seventeen analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $22.4375.

TNDM has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Saturday, September 27th. Oppenheimer began coverage on Tandem Diabetes Care in a research report on Monday, September 8th. They set an “outperform” rating and a $22.00 target price for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 29th. Wall Street Zen lowered Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Finally, UBS Group decreased their price objective on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th.

Tandem Diabetes Care Trading Up 12.2%

Shares of NASDAQ:TNDM opened at $14.71 on Friday. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $42.70. The stock has a market capitalization of $993.94 million, a price-to-earnings ratio of -4.76 and a beta of 1.48. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. The company has a 50 day moving average price of $12.66 and a 200 day moving average price of $16.75.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). The company had revenue of $240.68 million during the quarter, compared to analysts’ expectations of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) EPS. On average, research analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, CFO Leigh Vosseller acquired 13,720 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $10.89 per share, with a total value of $149,410.80. Following the completion of the purchase, the chief financial officer directly owned 25,580 shares in the company, valued at $278,566.20. This trade represents a 115.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John F. Sheridan acquired 10,000 shares of Tandem Diabetes Care stock in a transaction dated Monday, August 11th. The shares were bought at an average cost of $10.23 per share, with a total value of $102,300.00. Following the transaction, the chief executive officer owned 106,327 shares in the company, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Tandem Diabetes Care

A number of large investors have recently bought and sold shares of the company. Praxis Investment Management Inc. bought a new position in Tandem Diabetes Care in the 3rd quarter worth about $150,000. Squarepoint Ops LLC boosted its position in shares of Tandem Diabetes Care by 45.8% during the second quarter. Squarepoint Ops LLC now owns 180,660 shares of the medical device company’s stock valued at $3,368,000 after purchasing an additional 56,777 shares in the last quarter. State of Wyoming grew its stake in shares of Tandem Diabetes Care by 379.9% in the 2nd quarter. State of Wyoming now owns 21,436 shares of the medical device company’s stock worth $400,000 after buying an additional 16,969 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Tandem Diabetes Care by 9.1% in the second quarter. Public Sector Pension Investment Board now owns 227,104 shares of the medical device company’s stock worth $4,233,000 after buying an additional 18,873 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Tandem Diabetes Care by 5.7% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 56,332 shares of the medical device company’s stock valued at $1,051,000 after acquiring an additional 3,054 shares during the period.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.