Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $29.84

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have received a consensus rating of “Hold” from the twenty-one ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $29.8421.

A number of equities analysts have recently commented on TNDM shares. Stifel Nicolaus raised their price objective on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, February 20th. The Goldman Sachs Group set a $21.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday, May 27th. UBS Group reaffirmed a “neutral” rating and set a $22.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, February 20th. Bank of America reduced their price objective on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Finally, Morgan Stanley raised their price objective on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Tandem Diabetes Care by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after buying an additional 278,042 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Tandem Diabetes Care in the 3rd quarter valued at about $513,000. Royce & Associates LP bought a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at about $6,191,000. Aberdeen Group plc boosted its stake in shares of Tandem Diabetes Care by 67.9% in the 3rd quarter. Aberdeen Group plc now owns 598,096 shares of the medical device company’s stock valued at $7,261,000 after purchasing an additional 241,878 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Tandem Diabetes Care in the 4th quarter valued at about $26,988,000.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $16.60 on Wednesday. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $29.65. The firm has a fifty day moving average price of $17.75 and a two-hundred day moving average price of $20.24. The company has a market cap of $1.14 billion, a PE ratio of -11.86 and a beta of 1.58.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.16. The firm had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.66) EPS. Analysts expect that Tandem Diabetes Care will post -0.74 EPS for the current year.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.