Tandem Diabetes Care (NASDAQ:TNDM) Issues Earnings Results, Beats Estimates By $0.05 EPS

Tandem Diabetes Care (NASDAQ:TNDM) released its quarterly earnings results on Thursday. The medical device company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.05, FiscalAI reports. The business had revenue of $290.38 million during the quarter, compared to analysts’ expectations of $277.14 million. Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.

Tandem Diabetes Care Trading Down 2.2%

TNDM stock traded down $0.42 during mid-day trading on Thursday, reaching $18.52. The company had a trading volume of 1,915,328 shares, compared to its average volume of 1,251,178. The company has a market capitalization of $1.26 billion, a PE ratio of -6.07 and a beta of 1.68. The firm has a 50 day moving average of $20.90 and a 200 day moving average of $16.93. Tandem Diabetes Care has a 12 month low of $9.98 and a 12 month high of $35.12. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently bought and sold shares of TNDM. Corient Private Wealth LLC bought a new position in shares of Tandem Diabetes Care during the 4th quarter worth $346,000. Mercer Global Advisors Inc. ADV bought a new position in Tandem Diabetes Care during the 4th quarter worth about $248,000. EP Wealth Advisors LLC bought a new position in Tandem Diabetes Care during the 4th quarter worth about $219,000. Wellington Management Group LLP purchased a new position in Tandem Diabetes Care during the 4th quarter valued at about $2,161,000. Finally, Man Group plc bought a new stake in shares of Tandem Diabetes Care in the 4th quarter valued at about $281,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TNDM. Mizuho lifted their price objective on shares of Tandem Diabetes Care from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. TD Cowen assumed coverage on Tandem Diabetes Care in a research report on Tuesday, January 27th. They set a “buy” rating and a $25.00 price objective on the stock. Morgan Stanley set a $23.00 price objective on Tandem Diabetes Care and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday, December 17th. Finally, Robert W. Baird set a $30.00 price target on Tandem Diabetes Care and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus target price of $24.35.

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.