Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $53.81 Consensus Target Price from Analysts

by · The Markets Daily

Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $53.81.

A number of equities analysts have issued reports on the stock. Citigroup reduced their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Sanford C. Bernstein started coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective for the company. Canaccord Genuity Group cut their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research report on Monday, December 2nd. Finally, Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price target on the stock.

Check Out Our Latest Report on Tandem Diabetes Care

Tandem Diabetes Care Stock Down 0.8 %

NASDAQ TNDM opened at $37.05 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care has a 52 week low of $21.85 and a 52 week high of $53.69. The stock has a market capitalization of $2.43 billion, a P/E ratio of -19.20 and a beta of 1.29. The stock has a fifty day moving average of $32.93 and a 200-day moving average of $38.13.

Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.38) EPS. On average, equities research analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now directly owns 195,190 shares in the company, valued at $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Fred Alger Management LLC boosted its stake in shares of Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after buying an additional 677,036 shares during the last quarter. Victory Capital Management Inc. boosted its position in Tandem Diabetes Care by 2,836.2% during the second quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after purchasing an additional 389,632 shares during the last quarter. Bellevue Group AG grew its stake in Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after purchasing an additional 307,624 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $10,208,000. Finally, First Light Asset Management LLC raised its stake in shares of Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock worth $28,545,000 after purchasing an additional 233,405 shares in the last quarter.

Tandem Diabetes Care Company Profile

(Get Free Report

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.

Further Reading