Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $28.98 Consensus PT from Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received an average rating of “Hold” from the twenty-three ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $28.9750.

TNDM has been the topic of several research reports. Mizuho lowered their price objective on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. UBS Group began coverage on shares of Tandem Diabetes Care in a report on Tuesday, July 28th. They set a “neutral” rating and a $18.00 price objective for the company. Zacks Research downgraded shares of Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. William Blair assumed coverage on shares of Tandem Diabetes Care in a report on Friday, August 21st. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $26.00 price target (down from $30.00) on shares of Tandem Diabetes Care in a research report on Friday, August 7th.

Tandem Diabetes Care Trading Down 1.0%

Shares of Tandem Diabetes Care stock opened at $21.37 on Monday. The company has a debt-to-equity ratio of 4.62, a quick ratio of 2.65 and a current ratio of 3.18. Tandem Diabetes Care has a 52 week low of $11.46 and a 52 week high of $29.65. The stock has a 50 day moving average price of $18.31 and a two-hundred day moving average price of $19.14. The stock has a market capitalization of $1.49 billion, a PE ratio of -22.98 and a beta of 1.54.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.The company had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. During the same period in the prior year, the firm earned ($0.78) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Tandem Diabetes Care will post -0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Freestone Grove Partners LP bought a new stake in Tandem Diabetes Care in the 3rd quarter worth about $22,706,000. First Light Asset Management LLC bought a new position in shares of Tandem Diabetes Care during the 4th quarter worth approximately $23,947,000. California State Teachers Retirement System lifted its position in shares of Tandem Diabetes Care by 1,283.1% during the 2nd quarter. California State Teachers Retirement System now owns 1,165,355 shares of the medical device company’s stock worth $17,585,000 after buying an additional 1,081,100 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Tandem Diabetes Care by 468.5% in the 4th quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock worth $27,442,000 after buying an additional 1,028,866 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Tandem Diabetes Care in the 4th quarter worth approximately $19,244,000.

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.