Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Consensus Recommendation of “Hold” from Brokerages
Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been assigned a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.08.
Several equities analysts have recently commented on TNDM shares. B. Riley cut shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $1.50 in a report on Friday, March 24th. Piper Jaffray Companies restated a “neutral” rating on shares of Tandem Diabetes Care in a report on Thursday, March 30th. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Tandem Diabetes Care in a report on Thursday, March 30th. Finally, Cowen and Company cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and set a $1.50 price target on the stock. in a report on Monday, April 10th.
A number of large investors have recently modified their holdings of TNDM. Iguana Healthcare Management LLC boosted its stake in shares of Tandem Diabetes Care by 33.3% in the first quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after buying an additional 25,000 shares in the last quarter. Paulson & CO. Inc. purchased a new position in Tandem Diabetes Care during the first quarter worth $600,000. Bank of America Corp DE raised its position in Tandem Diabetes Care by 88.6% in the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after buying an additional 404,452 shares in the last quarter. Monashee Investment Management LLC purchased a new position in Tandem Diabetes Care during the first quarter worth $180,000. Finally, Group One Trading L.P. purchased a new position in Tandem Diabetes Care during the first quarter worth $185,000. Hedge funds and other institutional investors own 45.77% of the company’s stock.
Shares of Tandem Diabetes Care (TNDM) opened at 0.57 on Monday. The firm’s market cap is $28.41 million. Tandem Diabetes Care has a 12-month low of $0.56 and a 12-month high of $8.81. The stock’s 50 day moving average price is $0.84 and its 200 day moving average price is $1.63.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, April 27th. The medical device company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.66) by $0.09. Tandem Diabetes Care had a negative net margin of 104.31% and a negative return on equity of 1,177.11%. The company had revenue of $17.50 million for the quarter, compared to analysts’ expectations of $15.72 million. During the same quarter in the prior year, the firm earned ($0.68) earnings per share. The company’s revenue was down 12.9% on a year-over-year basis. On average, equities research analysts predict that Tandem Diabetes Care will post ($1.88) EPS for the current fiscal year.
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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