Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Average Recommendation of “Moderate Buy” by Brokerages

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $29.8947.

Several research analysts have recently commented on the stock. Mizuho set a $24.00 target price on shares of Tandem Diabetes Care in a report on Friday, May 8th. Bank of America upgraded shares of Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $15.00 to $30.00 in a research report on Friday, February 20th. Truist Financial reiterated a “buy” rating and set a $31.00 price target (down from $35.00) on shares of Tandem Diabetes Care in a research report on Monday, May 11th. Weiss Ratings lowered shares of Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Finally, Stifel Nicolaus increased their price target on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, February 20th.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds have recently added to or reduced their stakes in TNDM. Caitong International Asset Management Co. Ltd boosted its position in Tandem Diabetes Care by 200.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after buying an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Tandem Diabetes Care by 80.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after purchasing an additional 593 shares during the period. OP Asset Management Ltd acquired a new position in shares of Tandem Diabetes Care during the first quarter worth $35,000. Quarry LP raised its stake in Tandem Diabetes Care by 2,597.1% during the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after buying an additional 3,558 shares during the last quarter. Finally, CoreCap Advisors LLC raised its stake in Tandem Diabetes Care by 270.3% during the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock worth $58,000 after buying an additional 3,468 shares during the last quarter.

Tandem Diabetes Care Stock Down 9.4%

Tandem Diabetes Care stock opened at $12.82 on Friday. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $29.65. The company’s 50-day moving average price is $20.05 and its two-hundred day moving average price is $20.26. The stock has a market cap of $878.54 million, a P/E ratio of -9.16 and a beta of 1.64. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The company had revenue of $247.22 million for the quarter, compared to analysts’ expectations of $240.41 million. During the same period last year, the firm earned ($0.66) earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts expect that Tandem Diabetes Care will post -0.79 EPS for the current year.

Tandem Diabetes Care Company Profile

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.