Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have received an average rating of “Hold” from the nineteen research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $28.1111.

A number of analysts recently weighed in on the company. Lake Street Capital upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Monday, February 23rd. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price target (up from $14.00) on shares of Tandem Diabetes Care in a research report on Friday, February 20th. The Goldman Sachs Group reissued a “neutral” rating and issued a $28.00 price target on shares of Tandem Diabetes Care in a research note on Monday, February 23rd. UBS Group restated a “neutral” rating and set a $22.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, February 20th. Finally, Robert W. Baird set a $30.00 price objective on Tandem Diabetes Care and gave the stock an “outperform” rating in a research note on Tuesday, December 16th.

Tandem Diabetes Care Trading Down 6.6%

TNDM opened at $21.14 on Monday. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.55 and a quick ratio of 2.02. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $29.65. The company’s 50 day moving average price is $21.40 and its two-hundred day moving average price is $17.92. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -6.89 and a beta of 1.63.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, February 19th. The medical device company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $290.38 million for the quarter, compared to analyst estimates of $277.14 million. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. Tandem Diabetes Care’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 earnings per share. As a group, research analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in shares of Tandem Diabetes Care by 54.0% in the 2nd quarter. Acadian Asset Management LLC now owns 358,516 shares of the medical device company’s stock valued at $6,676,000 after purchasing an additional 125,644 shares during the period. Sector Gamma AS lifted its stake in Tandem Diabetes Care by 28.0% in the third quarter. Sector Gamma AS now owns 269,542 shares of the medical device company’s stock valued at $3,272,000 after buying an additional 59,019 shares during the period. Aberdeen Group plc boosted its holdings in shares of Tandem Diabetes Care by 67.9% during the 3rd quarter. Aberdeen Group plc now owns 598,096 shares of the medical device company’s stock worth $7,261,000 after buying an additional 241,878 shares in the last quarter. Champlain Investment Partners LLC grew its position in shares of Tandem Diabetes Care by 6.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 1,455,123 shares of the medical device company’s stock worth $27,123,000 after buying an additional 86,235 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Tandem Diabetes Care by 122.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,143 shares of the medical device company’s stock valued at $488,000 after acquiring an additional 14,377 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.