Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Recommendation of “Hold” from Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have received a consensus recommendation of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $35.86.

Several equities analysts have commented on the stock. Mizuho assumed coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They set a “neutral” rating and a $20.00 target price on the stock. Citigroup raised their price target on Tandem Diabetes Care from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Morgan Stanley downgraded Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $45.00 to $22.00 in a research report on Wednesday, March 5th. Finally, Piper Sandler lowered their price target on Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st.

Insider Buying and Selling

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the business’s stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the purchase, the chief operating officer now directly owns 10,538 shares in the company, valued at approximately $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its stake in Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after purchasing an additional 541 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after acquiring an additional 748 shares during the last quarter. Assetmark Inc. raised its stake in shares of Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after acquiring an additional 535 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Tandem Diabetes Care by 163.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after acquiring an additional 1,101 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Tandem Diabetes Care in the first quarter valued at approximately $37,000.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $20.18 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a 1 year low of $15.75 and a 1 year high of $53.64. The business has a fifty day simple moving average of $19.48 and a 200 day simple moving average of $26.95. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -10.46 and a beta of 1.47.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The business had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.65) earnings per share. As a group, sell-side analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.