Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Average Recommendation of “Hold” by Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been given an average recommendation of “Hold” by the twenty-two ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $29.1250.

Several research firms have recently commented on TNDM. Mizuho set a $24.00 price target on shares of Tandem Diabetes Care in a research report on Friday, May 8th. Truist Financial reaffirmed a “buy” rating and set a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a report on Monday, May 11th. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and lifted their target price for the stock from $21.00 to $27.00 in a report on Monday, June 1st. Benchmark began coverage on shares of Tandem Diabetes Care in a research report on Monday, May 11th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on Tandem Diabetes Care in a research note on Tuesday, June 23rd. They set a “hold” rating and a $15.50 target price on the stock.

Tandem Diabetes Care Trading Up 0.3%

TNDM stock traded up $0.04 during midday trading on Friday, reaching $15.41. 1,321,244 shares of the company traded hands, compared to its average volume of 1,766,928. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. Tandem Diabetes Care has a 52-week low of $9.98 and a 52-week high of $29.65. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -11.01 and a beta of 1.58. The business has a 50 day moving average of $16.03 and a 200-day moving average of $19.45.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its 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. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The business had revenue of $247.22 million during the quarter, compared to analyst estimates of $240.41 million. During the same period in the previous year, the company posted ($0.66) EPS. Tandem Diabetes Care’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Tandem Diabetes Care will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Tandem Diabetes Care by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after purchasing an additional 278,042 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in Tandem Diabetes Care by 36.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock valued at $44,811,000 after purchasing an additional 991,649 shares during the last quarter. Jennison Associates LLC increased its stake in Tandem Diabetes Care by 42.3% in the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after purchasing an additional 601,260 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Tandem Diabetes Care during the third quarter valued at approximately $22,706,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Tandem Diabetes Care by 17.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,683,400 shares of the medical device company’s stock worth $37,001,000 after buying an additional 252,028 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.