Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $30.0526.

A number of analysts recently issued reports on TNDM shares. UBS Group reissued a “neutral” rating and set a $22.00 price target (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, February 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, January 21st. The Goldman Sachs Group lowered their price target on shares of Tandem Diabetes Care from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Sanford C. Bernstein reissued a “market perform” rating and set a $25.00 price target (up from $18.00) on shares of Tandem Diabetes Care in a report on Friday, January 9th. Finally, Barclays reissued an “overweight” rating and set a $56.00 price target on shares of Tandem Diabetes Care in a report on Monday, February 23rd.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock traded down $0.83 during trading hours on Tuesday, hitting $18.99. The company’s stock had a trading volume of 184,025 shares, compared to its average volume of 1,876,017. The company has a 50 day moving average of $21.80 and a 200 day moving average of $20.15. The stock has a market cap of $1.30 billion, a PE ratio of -6.19 and a beta of 1.74. The company has a current ratio of 2.55, a quick ratio of 2.02 and a debt-to-equity ratio of 2.00. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The business had revenue of $290.38 million for the quarter, compared to the consensus estimate of $277.14 million. During the same period in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts forecast that Tandem Diabetes Care will post -0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of large investors have recently added to or reduced their stakes in TNDM. Freestone Grove Partners LP acquired a new position in Tandem Diabetes Care during the third quarter worth $22,706,000. Assenagon Asset Management S.A. acquired a new position in Tandem Diabetes Care during the fourth quarter worth $26,988,000. First Light Asset Management LLC acquired a new position in Tandem Diabetes Care during the fourth quarter worth $23,947,000. BNP Paribas Financial Markets raised its position in 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 period. Finally, ArrowMark Colorado Holdings LLC raised its position in Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after acquiring an additional 991,649 shares during the period.

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.