Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $29.22 Consensus PT from Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned an average rating of “Hold” from the nineteen brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $29.2222.

TNDM has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $25.00 target price (up from $18.00) on shares of Tandem Diabetes Care in a research report on Friday, January 9th. Canaccord Genuity Group set a $35.00 price objective on Tandem Diabetes Care and gave the company a “buy” rating in a research report on Wednesday, December 17th. UBS Group reiterated a “neutral” rating and issued a $22.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, February 20th. TD Cowen initiated coverage on shares of Tandem Diabetes Care in a report on Tuesday, January 27th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Barclays restated an “overweight” rating and issued a $56.00 price target on shares of Tandem Diabetes Care in a report on Monday, February 23rd.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings in Tandem Diabetes Care by 200.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 593 shares during the last quarter. Quarry LP boosted its position in shares of Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after purchasing an additional 3,558 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Tandem Diabetes Care by 270.3% in the 3rd quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock worth $58,000 after purchasing an additional 3,468 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its stake in Tandem Diabetes Care by 485.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock worth $63,000 after buying an additional 4,269 shares during the last quarter.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $21.00 on Friday. The firm has a 50-day simple moving average of $21.73 and a 200-day simple moving average of $19.15. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $29.65. The firm has a market cap of $1.43 billion, a P/E ratio of -6.84 and a beta of 1.62. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.02 and a current ratio of 2.55.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $290.38 million for the quarter, compared to the consensus estimate of $277.14 million. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. Equities analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current fiscal 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.