Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $24.00 Consensus Price Target from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned an average rating of “Hold” from the eighteen ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $24.00.

A number of research firms have recently weighed in on TNDM. Wells Fargo & Company raised their price target on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Barclays boosted their price objective on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, December 17th. Wall Street Zen raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in Tandem Diabetes Care by 30.5% in the first quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock worth $4,054,000 after acquiring an additional 49,408 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Tandem Diabetes Care by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock valued at $1,426,000 after purchasing an additional 2,096 shares during the last quarter. Millennium Management LLC boosted its stake in Tandem Diabetes Care by 41.1% in the 1st quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock worth $4,361,000 after purchasing an additional 66,245 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Tandem Diabetes Care in the 1st quarter worth approximately $225,000. Finally, Goldman Sachs Group Inc. grew its position in Tandem Diabetes Care by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock worth $13,653,000 after purchasing an additional 34,069 shares during the last quarter.

Tandem Diabetes Care Trading Down 2.1%

Shares of NASDAQ:TNDM opened at $20.90 on Friday. The company has a market capitalization of $1.42 billion, a PE ratio of -6.85 and a beta of 1.68. The company has a current ratio of 2.44, a quick ratio of 1.90 and a debt-to-equity ratio of 2.33. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $37.93. The business’s fifty day simple moving average is $20.64 and its 200-day simple moving average is $16.28.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The firm had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. During the same period in the prior year, the business posted ($0.35) EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal 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.