Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $53.81.

A number of analysts have recently issued reports on the company. Sanford C. Bernstein started coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price for the company. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Monday, December 2nd. Citigroup cut their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Canaccord Genuity Group decreased their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group began coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective on the stock.

Tandem Diabetes Care Stock Down 2.3 %

Shares of TNDM opened at $36.02 on Wednesday. Tandem Diabetes Care has a fifty-two week low of $21.85 and a fifty-two week high of $53.69. The company’s fifty day moving average is $32.49 and its two-hundred day moving average is $38.35. The firm has a market cap of $2.37 billion, a PE ratio of -18.66 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. During the same quarter last year, the firm earned ($0.38) earnings per share. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. Analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. This represents a 4.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by company insiders.

Institutional Trading of Tandem Diabetes Care

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in Tandem Diabetes Care by 3.2% during the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock worth $112,630,000 after buying an additional 83,172 shares during the last quarter. Fred Alger Management LLC raised its position in shares of 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 acquiring an additional 677,036 shares in the last quarter. Bellevue Group AG lifted its stake in Tandem Diabetes Care by 19.9% during the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after purchasing an additional 307,624 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tandem Diabetes Care by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,525,816 shares of the medical device company’s stock worth $64,722,000 after purchasing an additional 18,187 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in Tandem Diabetes Care by 12.2% during the third quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock valued at $54,051,000 after purchasing an additional 138,263 shares during the last quarter.

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.