Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) have earned a consensus recommendation of “Buy” from the eighteen ratings firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $68.14.
TNDM has been the subject of a number of recent research reports. Oppenheimer upped their price target on Tandem Diabetes Care from $80.00 to $84.00 in a research report on Friday, August 2nd. ValuEngine downgraded Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 2nd. Svb Leerink initiated coverage on Tandem Diabetes Care in a research report on Monday, May 13th. They set an “outperform” rating and a $83.00 price target for the company. Stifel Nicolaus upped their price target on Tandem Diabetes Care from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Tandem Diabetes Care in a research report on Monday, June 17th.
In other news, EVP David B. Berger sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $67.76, for a total transaction of $135,520.00. Following the sale, the executive vice president now owns 5,311 shares in the company, valued at approximately $359,873.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Leigh Vosseller sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $70.45, for a total value of $704,500.00. Following the sale, the chief financial officer now owns 12,009 shares in the company, valued at approximately $846,034.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,537 shares of company stock worth $7,069,162. Company insiders own 6.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Tandem Diabetes Care by 250.1% during the 4th quarter. Bank of America Corp DE now owns 121,451 shares of the medical device company’s stock worth $4,613,000 after purchasing an additional 86,763 shares in the last quarter. Rehmann Capital Advisory Group bought a new stake in Tandem Diabetes Care in the 1st quarter valued at $189,000. Tarbox Family Office Inc. raised its stake in Tandem Diabetes Care by 11.6% in the 1st quarter. Tarbox Family Office Inc. now owns 5,780 shares of the medical device company’s stock valued at $367,000 after acquiring an additional 600 shares during the period. Eagle Asset Management Inc. raised its stake in Tandem Diabetes Care by 24.4% in the 1st quarter. Eagle Asset Management Inc. now owns 1,307,033 shares of the medical device company’s stock valued at $82,996,000 after acquiring an additional 256,595 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in Tandem Diabetes Care by 239.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 47,409 shares of the medical device company’s stock valued at $3,011,000 after acquiring an additional 33,453 shares during the period. Institutional investors own 80.84% of the company’s stock.
Shares of TNDM traded up $0.37 on Tuesday, hitting $63.87. The company’s stock had a trading volume of 1,081,506 shares, compared to its average volume of 1,463,607. Tandem Diabetes Care has a fifty-two week low of $26.40 and a fifty-two week high of $74.81. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $63.90. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -25.05 and a beta of 0.33.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.20. Tandem Diabetes Care had a negative return on equity of 19.31% and a negative net margin of 19.55%. The firm had revenue of $93.26 million during the quarter, compared to the consensus estimate of $69.95 million. During the same quarter in the prior year, the firm posted ($0.33) EPS. The business’s revenue was up 173.2% on a year-over-year basis. Sell-side analysts expect that Tandem Diabetes Care will post -0.65 EPS for the current year.
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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