Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) PT at $29.89

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned a consensus rating of “Moderate Buy” from the twenty-one analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $29.6316.

A number of equities research analysts recently weighed in on the company. Piper Sandler upgraded Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $21.00 to $33.00 in a report on Tuesday, March 17th. TD Cowen reaffirmed a “buy” rating and set a $28.00 price objective (up from $25.00) on shares of Tandem Diabetes Care in a report on Monday, April 20th. Zacks Research upgraded Tandem Diabetes Care from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Stifel Nicolaus raised their price target on Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Finally, Lake Street Capital raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Monday, February 23rd.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its holdings in shares of Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after acquiring an additional 593 shares during the last quarter. OP Asset Management Ltd purchased a new stake in Tandem Diabetes Care in the 1st quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd raised its holdings in Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 1,470 shares during the last quarter. Van ECK Associates Corp raised its holdings in Tandem Diabetes Care by 67.4% in the 4th quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock valued at $75,000 after acquiring an additional 1,381 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Tandem Diabetes Care by 36.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after purchasing an additional 909 shares during the period.

Tandem Diabetes Care Stock Down 5.0%

TNDM stock opened at $14.97 on Friday. The company has a market cap of $1.03 billion, a P/E ratio of -10.69 and a beta of 1.64. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week high of $29.65. The company’s 50-day moving average price is $19.34 and its 200 day moving average price is $20.26. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) 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 company had revenue of $247.22 million during the quarter, compared to analysts’ expectations of $240.41 million. During the same period last year, the company posted ($0.66) earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that Tandem Diabetes Care will post -0.79 earnings per share for the current fiscal year.

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.