Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) PT at $29.12

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been assigned an average recommendation of “Hold” from the twenty-two analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $29.1250.

A number of research firms have recently issued reports on TNDM. Citigroup reaffirmed a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th. Zacks Research downgraded Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. The Goldman Sachs Group set a $21.00 price target on Tandem Diabetes Care in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft started coverage on Tandem Diabetes Care in a research report on Tuesday, June 23rd. They set a “hold” rating and a $15.50 price objective on the stock. Finally, Wells Fargo & Company raised Tandem Diabetes Care from a “buy” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $27.00 in a report on Monday, June 1st.

Tandem Diabetes Care Stock Up 0.1%

TNDM opened at $15.43 on Friday. The company has a 50 day moving average of $16.24 and a 200 day moving average of $19.58. The company has a market cap of $1.06 billion, a PE ratio of -11.02 and a beta of 1.58. Tandem Diabetes Care has a 12 month low of $9.98 and a 12 month high of $29.65. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The firm had revenue of $247.22 million for the quarter, compared to analysts’ expectations of $240.41 million. During the same period in the prior year, the business posted ($0.66) earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Tandem Diabetes Care will post -0.72 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Freestone Grove Partners LP bought a new stake in shares of Tandem Diabetes Care in the third quarter worth about $22,706,000. Assenagon Asset Management S.A. bought a new position in Tandem Diabetes Care during the fourth quarter valued at approximately $26,988,000. First Light Asset Management LLC bought a new position in Tandem Diabetes Care during the fourth quarter valued at approximately $23,947,000. BNP Paribas Financial Markets grew its holdings in Tandem Diabetes Care by 468.5% during the 4th quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock valued at $27,442,000 after buying an additional 1,028,866 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in Tandem Diabetes Care by 36.7% in the 3rd 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 last quarter.

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.