Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $28.73

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been given an average recommendation of “Hold” by the twenty-two analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $28.7250.

A number of equities analysts recently weighed in on the stock. Barclays set a $55.00 price objective on shares of Tandem Diabetes Care and gave the stock an “overweight” rating in a research report on Monday, May 11th. UBS Group initiated coverage on shares of Tandem Diabetes Care in a research report on Tuesday, July 28th. They set a “neutral” rating and a $18.00 price target on the stock. Mizuho cut their target price on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Zacks Research cut Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a report on Monday, May 11th.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently bought and sold shares of the business. Freestone Grove Partners LP acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth $22,706,000. First Light Asset Management LLC purchased a new stake in Tandem Diabetes Care in the fourth quarter valued at approximately $23,947,000. BNP Paribas Financial Markets grew its position in shares of Tandem Diabetes Care by 468.5% during the fourth quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock worth $27,442,000 after acquiring an additional 1,028,866 shares during the last quarter. Marshall Wace LLP purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at $19,244,000. Finally, Defilade Capital Management L.P. acquired a new position in Tandem Diabetes Care in the first quarter valued at $14,606,000.

Tandem Diabetes Care Price Performance

TNDM stock opened at $19.59 on Thursday. Tandem Diabetes Care has a 52-week low of $9.98 and a 52-week high of $29.65. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -13.99 and a beta of 1.54. The business has a fifty day moving average of $16.83 and a two-hundred day moving average of $18.87.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. The firm had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned ($0.66) EPS. As a group, research analysts anticipate that Tandem Diabetes Care will post -0.72 earnings per share 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.