Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Recommendation of “Hold” from Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned an average rating of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.0526.

Several equities research analysts have recently weighed in on TNDM shares. TD Cowen reiterated a “buy” rating and set a $28.00 price objective (up from $25.00) on shares of Tandem Diabetes Care in a research report on Monday, April 20th. Lake Street Capital upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, February 23rd. Mizuho set a $22.00 target price on shares of Tandem Diabetes Care and gave the stock a “neutral” rating in a research note on Friday, February 20th. Barclays reissued an “overweight” rating and set a $56.00 target price on shares of Tandem Diabetes Care in a research note on Monday, February 23rd. Finally, UBS Group reissued a “neutral” rating and set a $22.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday, February 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TNDM. Royal Bank of Canada boosted its stake in Tandem Diabetes Care by 30.5% during the first quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock worth $4,054,000 after acquiring an additional 49,408 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tandem Diabetes Care by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock worth $1,426,000 after acquiring an additional 2,096 shares in the last quarter. Millennium Management LLC boosted its stake in Tandem Diabetes Care by 41.1% during the first quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock worth $4,361,000 after acquiring an additional 66,245 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Tandem Diabetes Care during the first quarter worth $225,000. Finally, Goldman Sachs Group Inc. boosted its stake in Tandem Diabetes Care by 5.0% during the first quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock worth $13,653,000 after acquiring an additional 34,069 shares in the last quarter.

Tandem Diabetes Care Trading Down 1.5%

TNDM opened at $20.36 on Tuesday. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $29.65. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. The company has a fifty day moving average of $21.78 and a 200-day moving average of $20.09. The stock has a market cap of $1.39 billion, a PE ratio of -6.63 and a beta of 1.74.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $277.14 million. During the same period in the prior year, the company posted $0.01 earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts predict that Tandem Diabetes Care will post -0.93 EPS for the current year.

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.