Brokerages Set Tandem Diabetes Care Inc (TNDM) PT at $45.12
Tandem Diabetes Care Inc (NASDAQ:TNDM) has earned an average rating of “Buy” from the sixteen brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $45.12.
A number of research analysts recently commented on TNDM shares. BidaskClub downgraded Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 7th. Lake Street Capital set a $60.00 price target on Tandem Diabetes Care and gave the company a “buy” rating in a report on Saturday, November 3rd. Craig Hallum set a $59.00 price target on Tandem Diabetes Care and gave the company a “buy” rating in a report on Friday, November 2nd. UBS Group started coverage on Tandem Diabetes Care in a report on Tuesday, November 27th. They issued a “neutral” rating and a $36.00 price target for the company. Finally, Zacks Investment Research downgraded Tandem Diabetes Care from a “buy” rating to a “hold” rating in a report on Saturday, October 6th.
Shares of TNDM stock traded down $0.36 during trading hours on Friday, reaching $42.05. The company had a trading volume of 22,589 shares, compared to its average volume of 1,463,403. Tandem Diabetes Care has a twelve month low of $2.14 and a twelve month high of $52.55. The firm has a market cap of $2.50 billion, a P/E ratio of -3.27 and a beta of 0.36.
In related news, Director Richard P. Valencia bought 1,300 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average cost of $37.75 per share, for a total transaction of $49,075.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian B. Hansen sold 25,000 shares of Tandem Diabetes Care stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $37.75, for a total value of $943,750.00. Following the completion of the transaction, the executive vice president now owns 26,381 shares in the company, valued at $995,882.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,281 shares of company stock worth $10,851,377. 9.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio grew its holdings in shares of Tandem Diabetes Care by 580.0% in the 4th quarter. Strs Ohio now owns 3,400 shares of the medical device company’s stock worth $129,000 after acquiring an additional 2,900 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Tandem Diabetes Care by 78.4% in the fourth quarter. IFP Advisors Inc now owns 1,757 shares of the medical device company’s stock worth $66,000 after buying an additional 772 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Tandem Diabetes Care by 48.4% in the fourth quarter. Meeder Asset Management Inc. now owns 4,019 shares of the medical device company’s stock worth $152,000 after buying an additional 1,310 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Tandem Diabetes Care by 0.7% in the third quarter. TIAA CREF Investment Management LLC now owns 98,569 shares of the medical device company’s stock worth $4,223,000 after buying an additional 697 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Tandem Diabetes Care by 14.6% in the third quarter. Legal & General Group Plc now owns 7,629 shares of the medical device company’s stock worth $327,000 after buying an additional 971 shares during the period. Institutional investors and hedge funds own 71.59% of the company’s stock.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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