Lake Street Capital Reiterates Buy Rating for Tandem Diabetes Care (NASDAQ:TNDM)

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Lake Street Capital in a report released on Monday, The Fly reports.

Several other research firms have also recently commented on TNDM. Leerink Swann started coverage on shares of Tandem Diabetes Care in a research report on Monday, May 13th. They set an “outperform” rating and a $83.00 target price on the stock. Bank of America reissued a “neutral” rating and set a $65.00 target price on shares of Tandem Diabetes Care in a research report on Friday, May 17th. UBS Group lifted their target price on shares of Tandem Diabetes Care from $53.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. ValuEngine cut shares of Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Finally, Stifel Nicolaus lifted their price target on shares of Tandem Diabetes Care from $58.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $68.13.

Shares of Tandem Diabetes Care stock traded down $1.29 during mid-day trading on Monday, hitting $62.29. 848,718 shares of the stock were exchanged, compared to its average volume of 1,446,297. Tandem Diabetes Care has a 12 month low of $18.10 and a 12 month high of $74.81. The company has a quick ratio of 2.13, a current ratio of 2.43 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.69 billion, a P/E ratio of -24.43 and a beta of 0.51.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Tuesday, April 30th. The medical device company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.10). Tandem Diabetes Care had a negative return on equity of 40.76% and a negative net margin of 50.73%. The firm had revenue of $66.00 million for the quarter, compared to the consensus estimate of $47.55 million. During the same period in the prior year, the business earned ($1.82) EPS. Tandem Diabetes Care’s quarterly revenue was up 141.9% compared to the same quarter last year. On average, equities analysts anticipate that Tandem Diabetes Care will post -0.81 EPS for the current year.

In related news, CFO Leigh Vosseller sold 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $65.14, for a total value of $651,400.00. Following the sale, the chief financial officer now owns 12,009 shares of the company’s stock, valued at approximately $782,266.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David B. Berger sold 2,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $67.76, for a total transaction of $135,520.00. Following the completion of the sale, the executive vice president now directly owns 5,311 shares in the company, valued at approximately $359,873.36. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock worth $2,785,580 in the last ninety days. 6.90% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in Tandem Diabetes Care by 0.3% in the 1st quarter. Rhumbline Advisers now owns 68,183 shares of the medical device company’s stock valued at $4,330,000 after buying an additional 202 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Tandem Diabetes Care by 11.3% in the 1st quarter. Meeder Asset Management Inc. now owns 4,475 shares of the medical device company’s stock valued at $284,000 after buying an additional 456 shares in the last quarter. Bremer Bank National Association purchased a new position in Tandem Diabetes Care in the 1st quarter valued at approximately $31,000. Tarbox Family Office Inc. grew its stake in Tandem Diabetes Care by 11.6% in the 1st quarter. Tarbox Family Office Inc. now owns 5,780 shares of the medical device company’s stock valued at $367,000 after buying an additional 600 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in Tandem Diabetes Care by 38.2% in the 4th quarter. Advisor Group Inc. now owns 2,351 shares of the medical device company’s stock valued at $89,000 after buying an additional 650 shares in the last quarter. Institutional investors and hedge funds own 80.47% 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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The Fly

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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