Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Average Recommendation of “Hold” by Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned an average rating of “Hold” from the twenty-two research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $28.7250.

Several research analysts have commented on the company. Mizuho dropped their price target on Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. TD Cowen restated a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of Tandem Diabetes Care in a research note on Monday, April 20th. Truist Financial reaffirmed a “buy” rating and set a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a research report on Monday, May 11th. Citigroup reiterated a “neutral” rating and set a $17.00 target price (down from $22.00) on shares of Tandem Diabetes Care in a research note on Thursday, May 28th. Finally, Wells Fargo & Company raised shares of Tandem Diabetes Care from a “buy” rating to an “overweight” rating and increased their price target for the company from $21.00 to $27.00 in a report on Monday, June 1st.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors have recently added to or reduced their stakes in TNDM. Freestone Grove Partners LP bought a new position in shares of Tandem Diabetes Care during the 3rd quarter worth about $22,706,000. First Light Asset Management LLC bought a new stake in Tandem Diabetes Care in the fourth quarter valued at about $23,947,000. BNP Paribas Financial Markets raised its position in Tandem Diabetes Care by 468.5% in the fourth quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock worth $27,442,000 after purchasing an additional 1,028,866 shares in the last quarter. Marshall Wace LLP acquired a new position in Tandem Diabetes Care in the fourth quarter worth about $19,244,000. Finally, Defilade Capital Management L.P. bought a new position in Tandem Diabetes Care during the first quarter worth about $14,606,000.

Tandem Diabetes Care Stock Up 3.1%

Tandem Diabetes Care stock opened at $20.11 on Thursday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -14.36 and a beta of 1.53. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $29.65. The firm has a fifty day moving average price of $16.62 and a two-hundred day moving average price of $18.89.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.16. The company had revenue of $247.22 million for the quarter, compared to the consensus estimate 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 was up 5.5% compared to the same quarter last year. During the same period last year, the business posted ($0.66) earnings per share. As a group, analysts forecast that Tandem Diabetes Care will post -0.72 earnings per share for the current year.

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.