Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $55.13.

TNDM has been the subject of a number of research reports. UBS Group raised Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price target (up from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price target for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $45.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Finally, Wells Fargo & Company raised their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd.

Institutional Trading of Tandem Diabetes Care

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Tandem Diabetes Care by 54.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,648 shares of the medical device company’s stock worth $2,575,000 after acquiring an additional 21,282 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Tandem Diabetes Care by 21.2% during the third quarter. Assenagon Asset Management S.A. now owns 377,565 shares of the medical device company’s stock worth $16,013,000 after acquiring an additional 66,138 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Tandem Diabetes Care by 4,141.2% during the third quarter. International Assets Investment Management LLC now owns 6,998 shares of the medical device company’s stock valued at $297,000 after buying an additional 6,833 shares in the last quarter. Private Advisor Group LLC bought a new position in Tandem Diabetes Care during the third quarter valued at about $220,000. Finally, Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care during the third quarter valued at about $50,000.

Tandem Diabetes Care Stock Down 1.2 %

Shares of Tandem Diabetes Care stock opened at $31.76 on Friday. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The business’s 50 day simple moving average is $41.28 and its 200-day simple moving average is $41.83. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -15.20 and a beta of 1.33. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. The business had revenue of $221.90 million for the quarter, compared to analysts’ expectations of $205.63 million. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.30) EPS. Equities research analysts forecast that Tandem Diabetes Care will post -1.76 earnings per share for the current year.

Tandem Diabetes Care Company Profile

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.