Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Rating of “Moderate Buy” from Brokerages

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $54.36.

TNDM has been the topic of several research reports. Wells Fargo & Company increased their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer raised their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Piper Sandler restated an “overweight” rating and set a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Robert W. Baird increased their target price on Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They set a “buy” rating and a $57.00 price target for the company.

Institutional Trading of Tandem Diabetes Care

Institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC increased its stake in shares of Tandem Diabetes Care by 98.1% during the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after acquiring an additional 1,265,534 shares during the period. Fred Alger Management LLC boosted its stake in Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Tandem Diabetes Care by 2,836.2% during the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after purchasing an additional 389,632 shares during the period. Kingdon Capital Management L.L.C. increased its position in shares of Tandem Diabetes Care by 153.9% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock valued at $17,460,000 after purchasing an additional 298,880 shares during the period. Finally, First Light Asset Management LLC lifted its holdings in shares of Tandem Diabetes Care by 49.1% in the second quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after buying an additional 233,405 shares during the period.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $42.45 on Monday. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -19.56 and a beta of 1.32. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $53.69. The business has a 50 day simple moving average of $42.18 and a 200-day simple moving average of $41.18.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.07. The firm had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. As a group, equities research analysts expect that Tandem Diabetes Care will post -1.76 earnings per share for the current year.

Tandem Diabetes Care Company Profile

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.