Tandem Diabetes Care’s (TNDM) Buy Rating Reiterated at Lake Street Capital

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Lake Street Capital reiterated their buy rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report published on Monday morning, The Fly reports.

TNDM has been the topic of a number of other reports. BidaskClub downgraded shares of Tandem Diabetes Care from a strong-buy rating to a buy rating in a research note on Tuesday, April 16th. ValuEngine downgraded shares of Tandem Diabetes Care from a strong-buy rating to a buy rating in a research note on Thursday, February 28th. Piper Jaffray Companies raised shares of Tandem Diabetes Care to an overweight rating and set a $67.00 price target on the stock in a research note on Wednesday, February 27th. Leerink Swann started coverage on shares of Tandem Diabetes Care in a research note on Monday, May 13th. They issued an outperform rating and a $83.00 price target on the stock. Finally, Svb Leerink started coverage on shares of Tandem Diabetes Care in a research note on Monday, May 13th. They issued an outperform rating and a $83.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $68.13.

Tandem Diabetes Care stock opened at $66.95 on Monday. The company has a market capitalization of $3.73 billion, a PE ratio of -26.25 and a beta of 0.51. Tandem Diabetes Care has a 1 year low of $19.49 and a 1 year high of $74.81. The company has a current ratio of 2.43, a quick ratio of 2.13 and a debt-to-equity ratio of 0.09.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Tuesday, April 30th. The medical device company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10). The company had revenue of $66.00 million during the quarter, compared to analysts’ expectations of $47.55 million. Tandem Diabetes Care had a negative net margin of 50.73% and a negative return on equity of 40.76%. Tandem Diabetes Care’s revenue was up 141.9% on a year-over-year basis. During the same period last year, the firm posted ($1.82) earnings per share. On average, research analysts forecast that Tandem Diabetes Care will post -0.81 EPS for the current year.

In related news, CFO Leigh Vosseller sold 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $65.14, for a total value of $651,400.00. Following the completion of the transaction, the chief financial officer now owns 12,009 shares in the company, valued at $782,266.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas A. Roeder sold 35,688 shares of Tandem Diabetes Care stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $70.07, for a total transaction of $2,500,658.16. The disclosure for this sale can be found here. Insiders sold 78,688 shares of company stock valued at $5,286,238 in the last 90 days. Company insiders own 6.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG grew its holdings in Tandem Diabetes Care by 130.1% during the 4th quarter. Deutsche Bank AG now owns 1,037,695 shares of the medical device company’s stock worth $39,400,000 after acquiring an additional 586,684 shares in the last quarter. FMR LLC grew its holdings in Tandem Diabetes Care by 248.9% during the 1st quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock worth $44,818,000 after acquiring an additional 503,482 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in Tandem Diabetes Care by 353.8% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 536,654 shares of the medical device company’s stock worth $34,078,000 after acquiring an additional 418,388 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Tandem Diabetes Care by 25.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,810,966 shares of the medical device company’s stock worth $68,762,000 after acquiring an additional 365,261 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Tandem Diabetes Care by 7.5% during the 4th quarter. BlackRock Inc. now owns 4,201,695 shares of the medical device company’s stock worth $159,538,000 after acquiring an additional 292,389 shares in the last quarter. Hedge funds and other institutional investors own 80.47% of the company’s stock.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

See Also: NASDAQ

The Fly

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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