Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $29.22 Average PT from Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $29.2222.

TNDM has been the subject of a number of research analyst reports. Citigroup raised their price objective on shares of Tandem Diabetes Care from $16.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $28.00 target price on shares of Tandem Diabetes Care in a research report on Monday, February 23rd. Robert W. Baird set a $30.00 price target on shares of Tandem Diabetes Care and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, January 21st. Finally, Canaccord Genuity Group set a $35.00 price objective on Tandem Diabetes Care and gave the company a “buy” rating in a research note on Wednesday, December 17th.

Tandem Diabetes Care Price Performance

TNDM stock opened at $18.61 on Friday. The firm has a market capitalization of $1.27 billion, a PE ratio of -6.06 and a beta of 1.74. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $29.65. The stock’s 50 day moving average is $21.61 and its 200-day moving average is $19.24.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The company had revenue of $290.38 million for the quarter, compared to analyst estimates of $277.14 million. During the same period last year, the firm earned $0.01 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. Sell-side analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TNDM. Smartleaf Asset Management LLC grew its stake in shares of Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after acquiring an additional 593 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 1,470 shares during the period. Van ECK Associates Corp lifted its holdings in Tandem Diabetes Care by 67.4% during the fourth quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 1,381 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Tandem Diabetes Care by 36.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 909 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Tandem Diabetes Care by 36.6% during the fourth quarter. Farther Finance Advisors LLC now owns 3,600 shares of the medical device company’s stock worth $79,000 after purchasing an additional 965 shares during the period.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.