Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $39.81.

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada dropped their price target on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their price objective on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their target price for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Canaccord Genuity Group lifted their price target on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Mizuho initiated coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They issued a “neutral” rating and a $20.00 price objective for the company.

Insider Activity at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the company’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $18.12 per share, with a total value of $190,948.56. Following the acquisition, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds have recently made changes to their positions in TNDM. Arizona State Retirement System grew its holdings in Tandem Diabetes Care by 1.9% during the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock valued at $683,000 after buying an additional 362 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Tandem Diabetes Care by 4.3% in the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock valued at $360,000 after purchasing an additional 409 shares in the last quarter. Summit Investment Advisors Inc. increased its position in Tandem Diabetes Care by 8.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock worth $247,000 after purchasing an additional 525 shares during the last quarter. Assetmark Inc. raised its stake in Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 525 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 541 shares during the last quarter.

Tandem Diabetes Care Trading Up 1.1 %

Shares of NASDAQ:TNDM opened at $22.98 on Tuesday. Tandem Diabetes Care has a 1 year low of $15.75 and a 1 year high of $53.69. The stock’s fifty day moving average price is $18.66 and its 200-day moving average price is $28.16. The company has a market cap of $1.53 billion, a P/E ratio of -11.91 and a beta of 1.47. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). The company had revenue of $234.42 million during the quarter, compared to the consensus estimate of $220.19 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.65) earnings per share. Sell-side analysts expect that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.