Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stock Has Average Target Price of $27.18

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned an average recommendation of “Hold” from the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $27.08.

A number of equities analysts recently weighed in on the company. Oppenheimer reiterated an “outperform” rating on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Tuesday, September 8th. UBS Group began coverage on shares of Tandem Diabetes Care in a research note on Tuesday, July 28th. They set a “neutral” rating and a $18.00 price objective for the company. Truist Financial decreased their target price on shares of Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Finally, Canaccord Genuity Group set a $40.00 target price on shares of Tandem Diabetes Care in a research report on Friday, August 7th.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNDM. First Light Asset Management LLC lifted its holdings in shares of Tandem Diabetes Care by 157.4% in the second quarter. First Light Asset Management LLC now owns 3,383,553 shares of the medical device company’s stock valued at $51,058,000 after purchasing an additional 2,068,838 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Tandem Diabetes Care in the second quarter worth $976,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Tandem Diabetes Care in the second quarter worth $33,000. Squarepoint Ops LLC acquired a new stake in shares of Tandem Diabetes Care in the second quarter worth $3,280,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Tandem Diabetes Care during the second quarter valued at $395,000.

Tandem Diabetes Care Stock Performance

TNDM opened at $16.52 on Tuesday. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62. The firm has a market cap of $1.15 billion, a PE ratio of -17.76 and a beta of 1.66. The business has a fifty day simple moving average of $19.08 and a 200-day simple moving average of $17.93. Tandem Diabetes Care has a fifty-two week low of $12.26 and a fifty-two week high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. The company had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%. Tandem Diabetes Care’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.78) earnings per share. As a group, equities analysts predict that Tandem Diabetes Care will post -0.66 EPS for the current fiscal year.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company’s products are designed to work with continuous glucose monitoring (CGM) systems and digital health tools to help automate and personalize insulin therapy.

Tandem’s product portfolio includes the t:slim X2 insulin pump, which features a rechargeable design and software that supports automated insulin delivery. The company also offers the t:slim X2 pump with Control-IQ technology, an algorithm designed to adjust insulin delivery based on CGM readings, and the compact Tandem Mobi pump.