Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $39.45 Consensus Target Price from Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $40.82.

A number of equities analysts have commented on TNDM shares. SVB Leerink upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $45.00 in a research note on Thursday, April 25th. Stifel Nicolaus raised their price objective on Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Leerink Partnrs upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Wells Fargo & Company upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $45.00 in a research note on Monday.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Tandem Diabetes Care by 1,567.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,635 shares of the medical device company’s stock valued at $235,000 after acquiring an additional 6,237 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Tandem Diabetes Care by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 356,393 shares of the medical device company’s stock valued at $12,620,000 after acquiring an additional 12,044 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at $8,018,000. New Mexico Educational Retirement Board acquired a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at $460,000. Finally, Arcadia Investment Management Corp MI boosted its holdings in shares of Tandem Diabetes Care by 141.6% during the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after acquiring an additional 1,085 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $36.69 on Friday. The firm has a market cap of $2.37 billion, a P/E ratio of -10.67 and a beta of 1.11. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $40.74. The business’s 50 day moving average is $31.47 and its 200-day moving average is $25.75.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. The firm had revenue of $196.80 million for the quarter, compared to the consensus estimate of $204.86 million. Equities research analysts predict that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.