Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $22.44 Consensus Price Target from Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $23.9375.

A number of equities research analysts have weighed in on TNDM shares. Barclays boosted their target price on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on Tandem Diabetes Care from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Mizuho upped their price target on shares of Tandem Diabetes Care from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Finally, Wall Street Zen upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its holdings in Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after buying an additional 1,470 shares during the last quarter. Quarry LP raised its position in shares of Tandem Diabetes Care by 2,597.1% during the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after acquiring an additional 3,558 shares in the last quarter. CWM LLC lifted its stake in Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after purchasing an additional 2,025 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Tandem Diabetes Care by 270.3% in the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 3,468 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in Tandem Diabetes Care by 485.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock valued at $63,000 after purchasing an additional 4,269 shares during the last quarter.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $22.07 on Wednesday. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $38.28. The stock has a 50-day moving average of $18.09 and a 200 day moving average of $16.05. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -7.24 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The firm had revenue of $249.25 million for the quarter, compared to the consensus estimate of $235.80 million. During the same quarter last year, the firm posted ($0.35) EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Tandem Diabetes Care will post -1.68 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.