Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Recommendation of “Hold” from Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $23.9375.

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Tandem Diabetes Care in a report on Tuesday, October 21st. They issued a “hold” rating and a $15.00 price objective for the company. Truist Financial set a $24.00 target price on Tandem Diabetes Care and gave the stock a “hold” rating in a research report on Thursday, December 18th. Barclays upped their price target on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Baird R W raised Tandem Diabetes Care from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, October 8th.

Institutional Trading of Tandem Diabetes Care

Hedge funds have recently modified their holdings of the company. Sessa Capital IM L.P. bought a new position in shares of Tandem Diabetes Care in the 1st quarter valued at about $85,574,000. Freestone Grove Partners LP bought a new stake in Tandem Diabetes Care during the 3rd quarter worth approximately $22,706,000. Ophir Asset Management Pty Ltd acquired a new stake in shares of Tandem Diabetes Care during the second quarter worth $27,307,000. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Tandem Diabetes Care by 36.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock valued at $44,811,000 after purchasing an additional 991,649 shares in the last quarter. Finally, Royce & Associates LP bought a new position in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $6,191,000.

Tandem Diabetes Care Stock Down 0.2%

Shares of Tandem Diabetes Care stock traded down $0.04 during trading on Wednesday, reaching $22.58. The company had a trading volume of 113,197 shares, compared to its average volume of 1,826,155. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -7.40 and a beta of 1.68. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $38.28. The firm’s fifty day moving average is $18.44 and its 200-day moving average is $16.08.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, hitting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The company had revenue of $249.25 million for the quarter, compared to the consensus estimate of $235.80 million. During the same quarter last year, the business posted ($0.35) EPS. Tandem Diabetes Care’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts anticipate that Tandem Diabetes Care will post -1.68 EPS 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.