Brokerages Set Tandem Diabetes Care, Inc. (TNDM) Price Target at $5.08
Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned a consensus rating of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $5.08.
Separately, Zacks Investment Research cut Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd.
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Shares of Tandem Diabetes Care (TNDM) traded down 18.1012% during trading on Tuesday, hitting $0.5633. The stock had a trading volume of 1,723,353 shares. The stock’s 50 day moving average is $0.63 and its 200-day moving average is $1.04. Tandem Diabetes Care has a 12-month low of $0.39 and a 12-month high of $8.81. The company’s market cap is $28.29 million.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, July 27th. The medical device company reported ($0.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.04. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 110.70%. The firm had revenue of $21.30 million for the quarter, compared to analysts’ expectations of $21.74 million. During the same quarter last year, the firm earned ($0.60) earnings per share. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. Analysts forecast that Tandem Diabetes Care will post ($1.79) earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of TNDM. Iguana Healthcare Management LLC lifted its stake in shares of Tandem Diabetes Care by 33.3% during the first quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after purchasing an additional 25,000 shares in the last quarter. OLD National Bancorp IN lifted its stake in shares of Tandem Diabetes Care by 31.0% during the first quarter. OLD National Bancorp IN now owns 119,779 shares of the medical device company’s stock worth $144,000 after purchasing an additional 28,320 shares in the last quarter. Monashee Investment Management LLC acquired a new position in shares of Tandem Diabetes Care during the first quarter worth about $180,000. Group One Trading L.P. acquired a new position in shares of Tandem Diabetes Care during the first quarter worth about $185,000. Finally, Keybank National Association OH lifted its stake in shares of Tandem Diabetes Care by 32.7% during the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after purchasing an additional 72,177 shares in the last quarter. Institutional investors own 36.71% of the company’s stock.
Tandem Diabetes Care Company Profile
Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).
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