Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $28.98

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned a consensus rating of “Hold” from the twenty-three analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $28.9750.

TNDM has been the topic of several recent research reports. Wells Fargo & Company raised shares of Tandem Diabetes Care from a “buy” rating to an “overweight” rating and boosted their price target for the company from $21.00 to $27.00 in a research report on Monday, June 1st. William Blair began coverage on shares of Tandem Diabetes Care in a research report on Friday, August 21st. They set an “outperform” rating for the company. Bank of America reduced their target price on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Benchmark assumed coverage on shares of Tandem Diabetes Care in a report on Monday, May 11th. They issued a “hold” rating on the stock. Finally, Weiss Ratings cut shares of Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Tandem Diabetes Care during the 2nd quarter worth about $395,000. California State Teachers Retirement System lifted its position in Tandem Diabetes Care by 1,283.1% in the second quarter. California State Teachers Retirement System now owns 1,165,355 shares of the medical device company’s stock valued at $17,585,000 after buying an additional 1,081,100 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Tandem Diabetes Care in the second quarter valued at about $180,000. Beaconlight Capital LLC boosted its stake in Tandem Diabetes Care by 4.8% during the second quarter. Beaconlight Capital LLC now owns 266,009 shares of the medical device company’s stock worth $4,014,000 after buying an additional 12,132 shares during the period. Finally, Prosperitas Financial LLC purchased a new position in Tandem Diabetes Care during the second quarter worth about $151,000.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $21.43 on Monday. The stock has a market capitalization of $1.49 billion, a P/E ratio of -23.04 and a beta of 1.54. The business has a 50 day simple moving average of $18.56 and a two-hundred day simple moving average of $19.17. Tandem Diabetes Care has a 12 month low of $11.46 and a 12 month high of $29.65. The company has a debt-to-equity ratio of 4.62, a current ratio of 3.18 and a quick ratio of 2.65.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. The business had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted ($0.78) EPS. As a group, analysts predict that Tandem Diabetes Care will post -0.65 EPS for the current fiscal year.

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.