Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday, BidAskClub reports.

Several other equities research analysts have also issued reports on the stock. Bank of America reiterated a “neutral” rating and issued a $65.00 price target on shares of Tandem Diabetes Care in a research note on Friday, May 17th. ValuEngine upgraded shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 15th. Svb Leerink assumed coverage on shares of Tandem Diabetes Care in a research note on Monday, May 13th. They issued an “outperform” rating and a $83.00 price target on the stock. Leerink Swann assumed coverage on shares of Tandem Diabetes Care in a research note on Monday, May 13th. They issued an “outperform” rating and a $83.00 price target on the stock. Finally, Oppenheimer lifted their price target on shares of Tandem Diabetes Care from $68.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $68.13.

Shares of NASDAQ:TNDM traded down $0.12 during midday trading on Wednesday, reaching $71.00. 979,259 shares of the company were exchanged, compared to its average volume of 1,883,560. Tandem Diabetes Care has a fifty-two week low of $15.11 and a fifty-two week high of $74.81. The company has a quick ratio of 2.13, a current ratio of 2.43 and a debt-to-equity ratio of 0.09. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -27.84 and a beta of 0.51.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Tuesday, April 30th. The medical device company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10). Tandem Diabetes Care had a negative return on equity of 40.76% and a negative net margin of 50.73%. The company had revenue of $66.00 million for the quarter, compared to analyst estimates of $47.55 million. During the same quarter in the previous year, the business earned ($1.82) earnings per share. The company’s revenue was up 141.9% on a year-over-year basis. Research analysts expect that Tandem Diabetes Care will post -0.81 earnings per share for the current fiscal year.

In other news, CFO Leigh Vosseller sold 10,000 shares of Tandem Diabetes Care stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $65.14, for a total value of $651,400.00. Following the completion of the transaction, the chief financial officer now owns 12,009 shares of the company’s stock, valued at approximately $782,266.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David B. Berger sold 2,000 shares of Tandem Diabetes Care stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $67.76, for a total transaction of $135,520.00. Following the completion of the transaction, the executive vice president now directly owns 5,311 shares of the company’s stock, valued at approximately $359,873.36. The disclosure for this sale can be found here. In the last three months, insiders sold 259,300 shares of company stock valued at $16,890,779. Insiders own 6.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Sigma Planning Corp bought a new position in shares of Tandem Diabetes Care in the 4th quarter valued at about $290,000. Bank of America Corp DE grew its position in shares of Tandem Diabetes Care by 250.1% in the 4th quarter. Bank of America Corp DE now owns 121,451 shares of the medical device company’s stock valued at $4,613,000 after acquiring an additional 86,763 shares during the period. California State Teachers Retirement System grew its position in shares of Tandem Diabetes Care by 2.3% in the 4th quarter. California State Teachers Retirement System now owns 79,809 shares of the medical device company’s stock valued at $3,030,000 after acquiring an additional 1,800 shares during the period. Bank of New York Mellon Corp grew its position in shares of Tandem Diabetes Care by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 210,992 shares of the medical device company’s stock valued at $9,039,000 after acquiring an additional 6,313 shares during the period. Finally, Columbus Circle Investors boosted its holdings in shares of Tandem Diabetes Care by 1,896.9% during the 4th quarter. Columbus Circle Investors now owns 848,842 shares of the medical device company’s stock worth $32,231,000 after buying an additional 806,335 shares during the period. 80.49% of the stock is owned by institutional investors.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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