Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by stock analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has a $130.00 price target on the medical device company’s stock. Guggenheim’s price objective suggests a potential upside of 24.45% from the stock’s previous close.
Several other research firms also recently weighed in on TNDM. Craig Hallum dropped their target price on Tandem Diabetes Care from $108.00 to $102.00 and set a “buy” rating for the company in a research report on Monday, April 20th. BidaskClub downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Stifel Nicolaus lifted their price objective on shares of Tandem Diabetes Care from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Cowen increased their target price on Tandem Diabetes Care from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, Piper Sandler raised their price target on Tandem Diabetes Care from $90.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $111.62.
Shares of TNDM stock opened at $104.46 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.21 and a current ratio of 2.82. The firm has a market cap of $6.28 billion, a P/E ratio of -139.28 and a beta of 0.58. The firm’s 50 day moving average price is $94.92 and its 200-day moving average price is $79.49. Tandem Diabetes Care has a one year low of $43.69 and a one year high of $110.80.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, July 30th. The medical device company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.21). Tandem Diabetes Care had a negative return on equity of 14.20% and a negative net margin of 10.29%. The firm had revenue of $109.24 million for the quarter, compared to analyst estimates of $86.51 million. As a group, research analysts predict that Tandem Diabetes Care will post -0.47 EPS for the current fiscal year.
In related news, Director Christopher J. Twomey sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $100.28, for a total transaction of $752,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP David B. Berger sold 2,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $101.65, for a total value of $203,300.00. Following the transaction, the executive vice president now directly owns 5,886 shares in the company, valued at approximately $598,311.90. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock worth $11,058,360 in the last quarter. Insiders own 6.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Copper Rock Capital Partners LLC purchased a new stake in Tandem Diabetes Care in the 2nd quarter valued at $263,717,000. Wellington Management Group LLP raised its position in Tandem Diabetes Care by 122.9% in 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. Invesco Ltd. lifted its holdings in Tandem Diabetes Care by 110.6% in the first quarter. Invesco Ltd. now owns 1,663,692 shares of the medical device company’s stock valued at $107,059,000 after acquiring an additional 873,780 shares during the period. Norges Bank purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter worth $31,266,000. Finally, FMR LLC boosted its position in shares of Tandem Diabetes Care by 248.9% during the 1st quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock worth $44,818,000 after purchasing an additional 503,482 shares in the last quarter. 91.73% of the stock is currently owned by institutional investors and hedge funds.
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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