Tandem Diabetes Care (TNDM) Coverage Initiated at Leerink Swann

Leerink Swann began coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report issued on Monday, The Fly reports. The brokerage issued an outperform rating and a $83.00 price target on the medical device company’s stock.

TNDM has been the subject of a number of other reports. BidaskClub cut Tandem Diabetes Care from a strong-buy rating to a buy rating in a research report on Tuesday, April 16th. ValuEngine cut Tandem Diabetes Care from a strong-buy rating to a buy rating in a research report on Thursday, February 28th. Piper Jaffray Companies upgraded Tandem Diabetes Care to an overweight rating and set a $67.00 price objective for the company in a research report on Wednesday, February 27th. Oppenheimer boosted their price objective on Tandem Diabetes Care from $57.00 to $68.00 and gave the company an outperform rating in a research report on Wednesday, February 27th. Finally, Robert W. Baird boosted their price objective on Tandem Diabetes Care from $46.00 to $55.00 and gave the company an outperform rating in a research report on Friday, February 15th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $68.13.

Shares of NASDAQ:TNDM opened at $65.90 on Monday. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -25.84 and a beta of 0.63. Tandem Diabetes Care has a 12-month low of $11.38 and a 12-month high of $74.81.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Tuesday, April 30th. The medical device company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.10). The business had revenue of $66.00 million during the quarter, compared to analysts’ expectations of $47.55 million. Tandem Diabetes Care had a negative net margin of 50.73% and a negative return on equity of 40.76%. The firm’s quarterly revenue was up 141.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.82) earnings per share. Equities research analysts predict that Tandem Diabetes Care will post -0.99 EPS for the current fiscal year.

In related news, EVP Brian B. Hansen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $72.00, for a total transaction of $720,000.00. Following the completion of the sale, the executive vice president now directly owns 11,381 shares in the company, valued at $819,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F. Sheridan sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $62.03, for a total value of $1,240,600.00. Following the sale, the executive vice president now owns 18,999 shares of the company’s stock, valued at $1,178,507.97. The disclosure for this sale can be found here. Insiders have sold 337,300 shares of company stock valued at $22,012,659 over the last quarter. 6.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of TNDM. Bremer Bank National Association purchased a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $31,000. PNC Financial Services Group Inc. purchased a new stake in shares of Tandem Diabetes Care during the fourth quarter worth approximately $44,000. IFP Advisors Inc increased its position in shares of Tandem Diabetes Care by 78.4% during the fourth quarter. IFP Advisors Inc now owns 1,757 shares of the medical device company’s stock worth $66,000 after purchasing an additional 772 shares in the last quarter. Advisor Group Inc. increased its position in shares of Tandem Diabetes Care by 38.2% during the fourth quarter. Advisor Group Inc. now owns 2,351 shares of the medical device company’s stock worth $89,000 after purchasing an additional 650 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $122,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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