Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $28.73

by · The Markets Daily

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report) have been given an average recommendation of “Hold” by the twenty-two analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $28.7250.

A number of equities analysts recently weighed in on the stock. Barclays set a $55.00 price objective on shares of Tandem Diabetes Care and gave the stock an “overweight” rating in a research report on Monday, May 11th. UBS Group initiated coverage on shares of Tandem Diabetes Care in a research report on Tuesday, July 28th. They set a “neutral” rating and a $18.00 price target on the stock. Mizuho cut their target price on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Zacks Research cut Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a report on Monday, May 11th.

Check Out Our Latest Research Report on TNDM

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently bought and sold shares of the business. Freestone Grove Partners LP acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth $22,706,000. First Light Asset Management LLC purchased a new stake in Tandem Diabetes Care in the fourth quarter valued at approximately $23,947,000. BNP Paribas Financial Markets grew its position in shares of Tandem Diabetes Care by 468.5% during the fourth quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock worth $27,442,000 after acquiring an additional 1,028,866 shares during the last quarter. Marshall Wace LLP purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at $19,244,000. Finally, Defilade Capital Management L.P. acquired a new position in Tandem Diabetes Care in the first quarter valued at $14,606,000.

Tandem Diabetes Care Price Performance

TNDM stock opened at $19.59 on Thursday. Tandem Diabetes Care has a 52-week low of $9.98 and a 52-week high of $29.65. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -13.99 and a beta of 1.54. The business has a fifty day moving average of $16.83 and a two-hundred day moving average of $18.87.

Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. The firm had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned ($0.66) EPS. As a group, research analysts anticipate that Tandem Diabetes Care will post -0.72 earnings per share for the current year.

Tandem Diabetes Care Company Profile

(Get Free Report)

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.

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