Piper Jaffray Companies Reiterates “Hold” Rating for Tandem Diabetes Care, Inc. (TNDM)
Tandem Diabetes Care, Inc. (NASDAQ:TNDM)‘s stock had its “hold” rating reiterated by Piper Jaffray Companies in a report released on Friday. They presently have a $1.50 target price on the medical device company’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 82.93% from the company’s current price.
Separately, Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Thursday, September 28th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $4.09.
Shares of Tandem Diabetes Care (NASDAQ TNDM) opened at 0.82 on Friday. The company’s market cap is $41.19 million. The stock’s 50 day moving average is $0.69 and its 200 day moving average is $0.81. Tandem Diabetes Care has a 12 month low of $0.39 and a 12 month high of $8.10.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, July 27th. The medical device company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.04. The company had revenue of $21.30 million during the quarter, compared to analyst estimates of $21.74 million. Tandem Diabetes Care had a negative net margin of 110.70% and a negative return on equity of 1,177.11%. Tandem Diabetes Care’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.60) EPS. On average, analysts anticipate that Tandem Diabetes Care will post ($1.79) EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Tandem Diabetes Care by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after purchasing an additional 32,991 shares in the last quarter. Bank of America Corp DE increased its stake in Tandem Diabetes Care by 88.6% during the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after purchasing an additional 404,452 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Tandem Diabetes Care by 93.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after purchasing an additional 280,551 shares in the last quarter. Paulson & CO. Inc. bought a new stake in Tandem Diabetes Care during the 1st quarter valued at $600,000. Finally, Keybank National Association OH increased its stake in Tandem Diabetes Care by 32.7% during the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after purchasing an additional 72,177 shares in the last quarter. Institutional investors and hedge funds own 36.64% of the company’s stock.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).
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