Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Recommendation of “Moderate Buy” from Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $54.36.

Several analysts recently commented on TNDM shares. Wells Fargo & Company raised their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Oppenheimer raised their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Canaccord Genuity Group began coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Finally, UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd.

Tandem Diabetes Care Stock Down 3.7 %

Tandem Diabetes Care stock opened at $42.45 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. Tandem Diabetes Care has a one year low of $13.82 and a one year high of $53.69. The company has a 50-day simple moving average of $42.18 and a 200-day simple moving average of $41.10. The firm has a market capitalization of $2.78 billion, a P/E ratio of -19.56 and a beta of 1.32.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TNDM. Charles Schwab Investment Management Inc. boosted its stake in shares of Tandem Diabetes Care by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 396,741 shares of the medical device company’s stock worth $11,736,000 after acquiring an additional 29,730 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Tandem Diabetes Care by 55.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 33,013 shares of the medical device company’s stock worth $977,000 after purchasing an additional 11,789 shares in the last quarter. US Bancorp DE raised its holdings in Tandem Diabetes Care by 222.0% during the 4th quarter. US Bancorp DE now owns 36,373 shares of the medical device company’s stock worth $1,076,000 after buying an additional 25,077 shares during the period. Commerce Bank purchased a new stake in Tandem Diabetes Care during the fourth quarter valued at about $460,000. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Tandem Diabetes Care in the fourth quarter worth about $1,041,000.

About Tandem Diabetes Care

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.