BidaskClub lowered shares of Tandem Diabetes Care (NASDAQ:TNDM) from a strong-buy rating to a buy rating in a research note published on Tuesday morning, BidAskClub reports.

TNDM has been the topic of a number of other research reports. Stifel Nicolaus raised their price objective on shares of Tandem Diabetes Care from $58.00 to $70.00 and gave the company a hold rating in a research note on Wednesday, May 1st. Oppenheimer raised their target price on shares of Tandem Diabetes Care from $80.00 to $84.00 in a report on Friday, August 2nd. UBS Group raised their target price on shares of Tandem Diabetes Care from $53.00 to $66.00 and gave the stock a neutral rating in a report on Tuesday, April 30th. Craig Hallum restated a buy rating and set a $84.00 target price (up from $70.00) on shares of Tandem Diabetes Care in a report on Wednesday, May 1st. Finally, Lake Street Capital restated a buy rating on shares of Tandem Diabetes Care in a report on Monday, June 17th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $68.38.

NASDAQ TNDM opened at $67.59 on Tuesday. Tandem Diabetes Care has a 12 month low of $26.40 and a 12 month high of $74.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.53 and a quick ratio of 2.21. The firm has a market capitalization of $3.47 billion, a PE ratio of -26.51 and a beta of 0.33. The company’s 50 day simple moving average is $63.20 and its 200 day simple moving average is $62.58.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.20. Tandem Diabetes Care had a negative net margin of 19.55% and a negative return on equity of 19.31%. The business had revenue of $93.26 million for the quarter, compared to analyst estimates of $69.95 million. During the same quarter last year, the business earned ($0.33) earnings per share. The business’s revenue for the quarter was up 173.2% on a year-over-year basis. Sell-side analysts anticipate that Tandem Diabetes Care will post -0.65 earnings per share for the current fiscal year.

In related news, Director Edward L. Cahill sold 1,417 shares of Tandem Diabetes Care stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.03, for a total value of $89,313.51. Following the transaction, the director now owns 5,399 shares in the company, valued at approximately $340,298.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas A. Roeder sold 35,688 shares of Tandem Diabetes Care stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.07, for a total transaction of $2,500,658.16. The disclosure for this sale can be found here. Insiders have sold a total of 108,954 shares of company stock worth $7,398,525 in the last 90 days. 6.90% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in shares of Tandem Diabetes Care by 250.1% during the fourth quarter. Bank of America Corp DE now owns 121,451 shares of the medical device company’s stock valued at $4,613,000 after acquiring an additional 86,763 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Tandem Diabetes Care by 24.4% during the 4th quarter. Legal & General Group Plc now owns 9,487 shares of the medical device company’s stock valued at $360,000 after buying an additional 1,858 shares in the last quarter. FMR LLC raised its stake in Tandem Diabetes Care by 40.2% during the 4th quarter. FMR LLC now owns 202,307 shares of the medical device company’s stock valued at $7,681,000 after purchasing an additional 58,052 shares during the period. Geode Capital Management LLC raised its stake in Tandem Diabetes Care by 10.6% during the 4th quarter. Geode Capital Management LLC now owns 647,594 shares of the medical device company’s stock valued at $24,589,000 after purchasing an additional 61,922 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in Tandem Diabetes Care by 11.3% during the 1st quarter. Meeder Asset Management Inc. now owns 4,475 shares of the medical device company’s stock valued at $284,000 after purchasing an additional 456 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Tandem Diabetes Care Company Profile

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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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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