Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $53.81 Average Target Price from Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDMGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $53.81.

TNDM has been the topic of a number of research reports. Robert W. Baird cut their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Barclays increased their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada began coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 target price for the company. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective for the company.

Read Our Latest Stock Analysis on Tandem Diabetes Care

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $36.40 on Friday. The firm has a 50 day simple moving average of $34.48 and a 200 day simple moving average of $37.58. Tandem Diabetes Care has a fifty-two week low of $21.85 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market cap of $2.39 billion, a P/E ratio of -18.86 and a beta of 1.29.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last released its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating the consensus estimate 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 company had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. During the same period last year, the firm earned ($0.38) EPS. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. Sell-side analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction dated Wednesday, November 20th. The stock was 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 of the company’s stock, valued at $5,855,700. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Tandem Diabetes Care in the third quarter valued at about $28,000. Assetmark Inc. bought a new position in Tandem Diabetes Care in the third quarter valued at approximately $29,000. ORG Wealth Partners LLC acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tandem Diabetes Care by 4.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,664 shares of the medical device company’s stock worth $664,000 after purchasing an additional 704 shares during the last quarter. Finally, Hanseatic Management Services Inc. raised its stake in shares of Tandem Diabetes Care by 5.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 13,941 shares of the medical device company’s stock worth $591,000 after purchasing an additional 710 shares in the last quarter.

Tandem Diabetes Care Company Profile

(Get Free Report

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.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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