Tandem Diabetes Care (NASDAQ:TNDM) Earns “Hold” Rating from Bank of America

Bank of America restated their hold rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report report published on Tuesday, TipRanks reports. The firm currently has a $100.00 price target on the medical device company’s stock.

Other equities research analysts also recently issued reports about the stock. Craig Hallum dropped their price target on shares of Tandem Diabetes Care from $108.00 to $102.00 and set a buy rating for the company in a research note on Monday, April 20th. ValuEngine downgraded shares of Tandem Diabetes Care from a buy rating to a hold rating in a research note on Friday, May 1st. Oppenheimer boosted their price target on shares of Tandem Diabetes Care from $92.00 to $102.00 and gave the stock an outperform rating in a research note on Monday, June 22nd. Stifel Nicolaus boosted their price target on shares of Tandem Diabetes Care from $65.00 to $75.00 and gave the stock a hold rating in a research note on Friday, May 1st. Finally, Raymond James upped their target price on shares of Tandem Diabetes Care from $88.00 to $95.00 and gave the company an outperform rating in a research note on Thursday, June 18th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $93.31.

Shares of TNDM stock opened at $87.81 on Tuesday. Tandem Diabetes Care has a 1 year low of $43.69 and a 1 year high of $99.33. The firm’s 50 day moving average is $84.63 and its 200-day moving average is $73.34. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of -266.08 and a beta of 0.59. The company has a current ratio of 2.82, a quick ratio of 2.21 and a debt-to-equity ratio of 0.09.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.07). The business had revenue of $97.90 million for the quarter, compared to the consensus estimate of $84.49 million. Tandem Diabetes Care had a negative return on equity of 9.39% and a negative net margin of 4.22%. The company’s quarterly revenue was up 49.2% on a year-over-year basis. During the same period last year, the firm earned ($0.40) earnings per share. On average, equities research analysts forecast that Tandem Diabetes Care will post -0.49 earnings per share for the current fiscal year.

In other news, Director Christopher J. Twomey sold 4,308 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $80.00, for a total transaction of $344,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David B. Berger sold 2,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $78.33, for a total transaction of $156,660.00. Following the sale, the executive vice president now directly owns 3,961 shares of the company’s stock, valued at approximately $310,265.13. The disclosure for this sale can be found here. Insiders have sold 21,808 shares of company stock valued at $1,848,680 in the last three months. 6.00% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Tandem Diabetes Care by 122.9% during the first quarter. Wellington Management Group LLP now owns 6,788,022 shares of the medical device company’s stock worth $436,807,000 after acquiring an additional 3,742,625 shares in the last quarter. BlackRock Inc. boosted its holdings in Tandem Diabetes Care by 2.9% during the first quarter. BlackRock Inc. now owns 4,404,313 shares of the medical device company’s stock worth $283,418,000 after purchasing an additional 125,008 shares during the last quarter. Invesco Ltd. boosted its holdings in Tandem Diabetes Care by 110.6% during the first quarter. Invesco Ltd. now owns 1,663,692 shares of the medical device company’s stock worth $107,059,000 after purchasing an additional 873,780 shares during the last quarter. Brown Capital Management LLC boosted its holdings in Tandem Diabetes Care by 21.9% during the first quarter. Brown Capital Management LLC now owns 1,109,383 shares of the medical device company’s stock worth $71,389,000 after purchasing an additional 199,391 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Tandem Diabetes Care by 0.9% during the first quarter. Geode Capital Management LLC now owns 887,660 shares of the medical device company’s stock worth $57,120,000 after purchasing an additional 8,173 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

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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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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