Tandem Diabetes Care Inc (NASDAQ:TNDM) Receives $73.25 Consensus Target Price from Brokerages

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Tandem Diabetes Care Inc (NASDAQ:TNDM) has received a consensus recommendation of “Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $73.92.

TNDM has been the subject of several research analyst reports. ValuEngine lowered shares of Tandem Diabetes Care from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 3rd. Craig Hallum reaffirmed a “buy” rating and set a $92.00 price target on shares of Tandem Diabetes Care in a research report on Friday. BidaskClub lowered shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Saturday, December 7th. UBS Group raised shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Friday, October 4th. Finally, Guggenheim started coverage on shares of Tandem Diabetes Care in a research report on Thursday, October 17th. They set a “buy” rating and a $76.00 price target for the company.

TNDM stock traded up $3.07 on Monday, hitting $60.76. 3,605,810 shares of the company were exchanged, compared to its average volume of 1,260,074. Tandem Diabetes Care has a twelve month low of $29.43 and a twelve month high of $74.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.05 and a current ratio of 2.46. The business’s fifty day moving average is $63.73 and its two-hundred day moving average is $63.85.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Monday, November 4th. The medical device company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. Tandem Diabetes Care had a negative net margin of 7.19% and a negative return on equity of 9.44%. The firm had revenue of $94.66 million during the quarter, compared to analyst estimates of $88.46 million. Sell-side analysts anticipate that Tandem Diabetes Care will post -0.38 EPS for the current year.

In other news, EVP Brian B. Hansen sold 15,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $62.01, for a total value of $930,150.00. Following the completion of the sale, the executive vice president now owns 17,991 shares of the company’s stock, valued at $1,115,621.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John F. Sheridan sold 462 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $70.00, for a total transaction of $32,340.00. Following the completion of the sale, the chief executive officer now directly owns 2,963 shares of the company’s stock, valued at approximately $207,410. The disclosure for this sale can be found here. Insiders sold 35,462 shares of company stock valued at $2,320,090 in the last three months. Company insiders own 6.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Tandem Diabetes Care by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,227,080 shares of the medical device company’s stock valued at $401,771,000 after purchasing an additional 316,123 shares in the last quarter. BlackRock Inc. grew its holdings in Tandem Diabetes Care by 2.1% during the 2nd quarter. BlackRock Inc. now owns 4,054,911 shares of the medical device company’s stock valued at $261,622,000 after purchasing an additional 83,336 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in Tandem Diabetes Care by 9.0% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,239,535 shares of the medical device company’s stock valued at $73,108,000 after purchasing an additional 102,758 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Tandem Diabetes Care by 15.9% during the 2nd quarter. Renaissance Technologies LLC now owns 897,927 shares of the medical device company’s stock valued at $57,934,000 after purchasing an additional 123,500 shares in the last quarter. Finally, 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 valued at $44,818,000 after purchasing an additional 503,482 shares in the last quarter. 83.17% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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