Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $29.84 Consensus PT from Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been assigned an average rating of “Hold” from the twenty-one analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $29.8421.

TNDM has been the subject of several recent analyst reports. Bank of America cut their price objective on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Truist Financial reissued a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of Tandem Diabetes Care in a report on Monday, May 11th. Lake Street Capital raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, February 23rd. Mizuho set a $24.00 price target on Tandem Diabetes Care in a research note on Friday, May 8th. Finally, TD Cowen restated a “buy” rating and issued a $28.00 price target (up from $25.00) on shares of Tandem Diabetes Care in a research note on Monday, April 20th.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently added to or reduced their stakes in the business. 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. Smartleaf Asset Management LLC raised its stake in Tandem Diabetes Care by 80.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 593 shares during the period. OP Asset Management Ltd bought a new stake in Tandem Diabetes Care in the 1st quarter valued at $35,000. Quarry LP raised its stake in Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 3,558 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its stake in Tandem Diabetes Care by 485.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock valued at $63,000 after acquiring an additional 4,269 shares during the period.

Tandem Diabetes Care Trading Up 5.1%

NASDAQ TNDM opened at $16.60 on Wednesday. The company has a market cap of $1.14 billion, a PE ratio of -11.86 and a beta of 1.58. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54. Tandem Diabetes Care has a 12 month low of $9.98 and a 12 month high of $29.65. The stock has a 50 day moving average of $17.75 and a 200-day moving average of $20.25.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.16. The company had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.66) EPS. On average, equities research analysts anticipate that Tandem Diabetes Care will post -0.74 EPS for the current fiscal year.

Tandem Diabetes Care Company Profile

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.