Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Price Target at $24.00

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given a consensus recommendation of “Hold” by the eighteen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $24.00.

A number of equities research analysts have recently commented on the company. Baird R W upgraded Tandem Diabetes Care from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $25.00 target price (up from $18.00) on shares of Tandem Diabetes Care in a report on Friday, January 9th. Mizuho boosted their price objective on Tandem Diabetes Care from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Stifel Nicolaus initiated coverage on shares of Tandem Diabetes Care in a report on Tuesday, October 21st. They issued a “hold” rating and a $15.00 target price for the company. Finally, Citigroup lifted their target price on shares of Tandem Diabetes Care from $16.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM opened at $21.07 on Friday. The firm’s 50-day moving average price is $20.91 and its two-hundred day moving average price is $16.35. The stock has a market capitalization of $1.43 billion, a P/E ratio of -6.91 and a beta of 1.68. Tandem Diabetes Care has a 52-week low of $9.98 and a 52-week high of $37.93. The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The company had revenue of $249.25 million for the quarter, compared to analysts’ expectations of $235.80 million. During the same quarter in the previous year, the company posted ($0.35) EPS. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

Several large investors have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC grew its holdings in shares of Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock valued at $44,811,000 after buying an additional 991,649 shares in the last quarter. Hood River Capital Management LLC boosted its position in Tandem Diabetes Care by 10.9% during the 2nd quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock worth $47,811,000 after acquiring an additional 252,934 shares during the period. Paradice Investment Management LLC increased its holdings in shares of Tandem Diabetes Care by 24.3% in the 3rd quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock valued at $26,665,000 after purchasing an additional 429,289 shares during the period. Freestone Grove Partners LP acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at about $22,706,000. Finally, Stephens Investment Management Group LLC lifted its position in shares of Tandem Diabetes Care by 1.8% in the second quarter. Stephens Investment Management Group LLC now owns 1,737,769 shares of the medical device company’s stock worth $32,392,000 after purchasing an additional 30,854 shares in the last quarter.

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.