Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $29.34

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given a consensus rating of “Hold” by the twenty-three ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $29.3421.

A number of research firms have recently commented on TNDM. The Goldman Sachs Group set a $21.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday, May 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $26.00 price objective (down from $30.00) on shares of Tandem Diabetes Care in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Tuesday, September 8th. Mizuho lowered their target price on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $21.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, August 7th.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of large investors have recently added to or reduced their stakes in TNDM. Integrated Wealth Concepts LLC bought a new stake in shares of Tandem Diabetes Care during the 2nd quarter worth about $33,000. OP Asset Management Ltd bought a new position in Tandem Diabetes Care in the 1st quarter valued at about $35,000. Creative Financial Designs Inc. ADV lifted its position in Tandem Diabetes Care by 36.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after acquiring an additional 909 shares during the last quarter. Prosperitas Financial LLC acquired a new stake in Tandem Diabetes Care during the second quarter worth approximately $151,000. Finally, Leonteq Securities AG acquired a new stake in Tandem Diabetes Care during the fourth quarter worth approximately $172,000.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $16.87 on Friday. Tandem Diabetes Care has a 1 year low of $11.46 and a 1 year high of $29.65. The company has a debt-to-equity ratio of 4.62, a current ratio of 3.18 and a quick ratio of 2.65. The business has a 50-day moving average of $19.62 and a two-hundred day moving average of $18.81. The company has a market capitalization of $1.17 billion, a P/E ratio of -18.14 and a beta of 1.55.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. The firm had revenue of $254.56 million during the quarter, compared to analyst estimates of $254.99 million. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.78) EPS. As a group, equities analysts predict that Tandem Diabetes Care will post -0.65 EPS for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical technology company that develops and commercializes insulin-delivery systems for people with diabetes. Headquartered in San Diego, California, the company focuses on combining wearable insulin pumps, continuous glucose monitoring connectivity and automated insulin-delivery software to help users manage their blood glucose levels.

Its product portfolio includes the t:slim X2 insulin pump, a touchscreen pump designed for integration with compatible continuous glucose monitors, and the smaller, wearable t:slim Mobi pump.