Tandem Diabetes Care, Inc. (TNDM) Receives $4.46 Consensus Target Price from Analysts
Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned a consensus rating of “Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $4.46.
Separately, Zacks Investment Research lowered shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd.
A number of hedge funds have recently made changes to their positions in TNDM. Vanguard Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after acquiring an additional 32,991 shares during the last quarter. Bank of America Corp DE boosted its holdings in Tandem Diabetes Care by 88.6% during the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after acquiring an additional 404,452 shares during the period. Russell Investments Group Ltd. boosted its holdings in Tandem Diabetes Care by 93.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after acquiring an additional 280,551 shares during the period. Paulson & CO. Inc. acquired a new position in Tandem Diabetes Care in the 1st quarter valued at about $600,000. Finally, Keybank National Association OH grew its position in Tandem Diabetes Care by 32.7% in the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after acquiring an additional 72,177 shares in the last quarter. 36.64% of the stock is owned by institutional investors.
Shares of Tandem Diabetes Care (TNDM) traded down 0.9200% during trading on Friday, hitting $0.7431. 884,687 shares of the company’s stock were exchanged. The company’s market cap is $37.32 million. The company has a 50-day moving average of $0.68 and a 200-day moving average of $0.83. Tandem Diabetes Care has a 12-month low of $0.39 and a 12-month high of $8.10.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, July 27th. The medical device company reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.04. The firm had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $21.74 million. Tandem Diabetes Care had a negative return on equity of 1,177.11% and a negative net margin of 110.70%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.60) earnings per share. On average, equities analysts expect that Tandem Diabetes Care will post ($1.79) earnings per share for the current fiscal year.
About Tandem Diabetes Care
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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