Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) PT at $28.73

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned a consensus rating of “Hold” from the twenty-two analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $28.7250.

Several brokerages have recently commented on TNDM. UBS Group initiated coverage on Tandem Diabetes Care in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $18.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on Tandem Diabetes Care in a research note on Tuesday, June 23rd. They issued a “hold” rating and a $15.50 price objective on the stock. Truist Financial reiterated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and boosted their price objective for the company from $21.00 to $27.00 in a research note on Monday, June 1st. Finally, Rothschild & Co Redburn set a $45.00 target price on shares of Tandem Diabetes Care in a report on Friday, April 24th.

Institutional Trading of Tandem Diabetes Care

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in Tandem Diabetes Care by 30.5% during the first quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock valued at $4,054,000 after purchasing an additional 49,408 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Tandem Diabetes Care by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock worth $1,426,000 after buying an additional 2,096 shares during the period. Millennium Management LLC raised its stake in shares of Tandem Diabetes Care by 41.1% during the first quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock valued at $4,361,000 after acquiring an additional 66,245 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Tandem Diabetes Care during the 1st quarter valued at approximately $225,000. Finally, Goldman Sachs Group Inc. lifted its stake in Tandem Diabetes Care by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock worth $13,653,000 after acquiring an additional 34,069 shares during the period.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $19.50 on Thursday. The company’s fifty day moving average is $16.52 and its 200 day moving average is $18.91. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $29.65. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -13.93 and a beta of 1.58. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last released 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 net margin of 9.20% and a negative return on equity of 53.88%. The business had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. During the same quarter in the prior year, the firm posted ($0.66) EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Tandem Diabetes Care will post -0.72 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.