Tandem Diabetes Care (NASDAQ:TNDM) had its price target hoisted by stock analysts at Lake Street Capital from $125.00 to $137.00 in a report issued on Friday, The Fly reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Lake Street Capital’s price objective would suggest a potential upside of 31.15% from the company’s current price.
TNDM has been the topic of several other reports. BidaskClub lowered Tandem Diabetes Care from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Bank of America reiterated a “hold” rating and set a $100.00 price objective on shares of Tandem Diabetes Care in a report on Tuesday, June 30th. SVB Leerink increased their target price on Tandem Diabetes Care from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Friday. Craig Hallum dropped their target price on shares of Tandem Diabetes Care from $108.00 to $102.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, UBS Group upped their price target on shares of Tandem Diabetes Care from $98.00 to $106.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Tandem Diabetes Care has a consensus rating of “Buy” and a consensus price target of $111.62.
Shares of NASDAQ:TNDM opened at $104.46 on Friday. The firm’s 50 day simple moving average is $94.92 and its 200 day simple moving average is $79.49. Tandem Diabetes Care has a fifty-two week low of $43.69 and a fifty-two week high of $110.80. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of -139.28 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.82 and a quick ratio of 2.21.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, July 30th. The medical device company reported ($0.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.21). The firm had revenue of $109.24 million during the quarter, compared to the consensus estimate of $86.51 million. Tandem Diabetes Care had a negative net margin of 10.29% and a negative return on equity of 14.20%. Equities research analysts expect that Tandem Diabetes Care will post -0.47 earnings per share for the current year.
In other news, EVP David B. Berger sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $78.33, for a total value of $156,660.00. Following the completion of the transaction, the executive vice president now owns 3,961 shares in the company, valued at approximately $310,265.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Leigh Vosseller sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $105.04, for a total value of $1,050,400.00. Following the completion of the transaction, the chief financial officer now owns 14,520 shares of the company’s stock, valued at approximately $1,525,180.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,000 shares of company stock valued at $11,058,360. 6.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sigma Planning Corp bought a new position in Tandem Diabetes Care in the second quarter valued at approximately $327,000. Copper Rock Capital Partners LLC bought a new position in shares of Tandem Diabetes Care in the second quarter valued at $263,717,000. Beacon Investment Advisory Services Inc. grew its stake in shares of Tandem Diabetes Care by 34.3% in the second quarter. Beacon Investment Advisory Services Inc. now owns 5,905 shares of the medical device company’s stock valued at $584,000 after buying an additional 1,509 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Tandem Diabetes Care during the second quarter worth $213,000. Finally, Raymond James & Associates raised its position in Tandem Diabetes Care by 8.7% during the second quarter. Raymond James & Associates now owns 45,023 shares of the medical device company’s stock worth $4,454,000 after acquiring an additional 3,609 shares in the last quarter. 91.73% of the stock is owned by hedge funds and other institutional investors.
Tandem Diabetes Care Company Profile
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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