Tandem Diabetes Care (NASDAQ:TNDM) Releases Earnings Results, Beats Estimates By $0.05 EPS

Tandem Diabetes Care (NASDAQ:TNDM) announced its quarterly earnings results on Thursday. The medical device company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.05, FiscalAI reports. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The company had revenue of $290.38 million for the quarter, compared to analysts’ expectations of $277.14 million.

Tandem Diabetes Care Trading Down 2.2%

TNDM stock traded down $0.42 during mid-day trading on Thursday, reaching $18.52. The company had a trading volume of 1,918,948 shares, compared to its average volume of 1,263,331. The company has a market capitalization of $1.26 billion, a PE ratio of -6.07 and a beta of 1.68. The firm has a 50 day moving average of $20.90 and a 200 day moving average of $16.93. Tandem Diabetes Care has a 12 month low of $9.98 and a 12 month high of $35.12. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC purchased a new stake in Tandem Diabetes Care in the fourth quarter valued at about $219,000. Maryland State Retirement & Pension System acquired a new position in shares of Tandem Diabetes Care during the fourth quarter valued at about $217,000. Fox Run Management L.L.C. acquired a new position in shares of Tandem Diabetes Care during the fourth quarter valued at about $251,000. PharVision Advisers LLC purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $270,000. Finally, Prelude Capital Management LLC acquired a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $228,000.

Analysts Set New Price Targets

A number of research analysts recently commented on TNDM shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Tandem Diabetes Care in a report on Friday, January 9th. Citigroup raised their price objective on Tandem Diabetes Care from $16.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. TD Cowen began coverage on Tandem Diabetes Care in a research report on Tuesday, January 27th. They issued a “buy” rating and a $25.00 price target for the company. Canaccord Genuity Group set a $35.00 price objective on shares of Tandem Diabetes Care and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Stifel Nicolaus increased their target price on shares of Tandem Diabetes Care from $16.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.35.

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.