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

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $53.81.

A number of research analysts have issued reports on TNDM shares. Barclays boosted their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research note on Monday, December 2nd. The Goldman Sachs Group began coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective on the stock. Royal Bank of Canada started coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 target price for the company. Finally, Robert W. Baird lowered their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $36.83 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The firm has a market cap of $2.42 billion, a P/E ratio of -19.08 and a beta of 1.29. Tandem Diabetes Care has a 1-year low of $21.85 and a 1-year high of $53.69. The firm has a 50-day moving average of $32.75 and a 200-day moving average of $38.24.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same period last year, the company earned ($0.38) EPS. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. Sell-side analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current year.

Insider Activity

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the director now owns 195,190 shares in the company, valued at $5,855,700. The trade was 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 through this link. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at about $28,000. Assetmark Inc. purchased a new stake in Tandem Diabetes Care in the third quarter worth approximately $29,000. ORG Wealth Partners LLC purchased a new stake in Tandem Diabetes Care in the third quarter worth approximately $30,000. Waldron Private Wealth LLC purchased a new stake in Tandem Diabetes Care during the 3rd quarter valued at $50,000. Finally, McIlrath & Eck LLC bought a new position in shares of Tandem Diabetes Care during the 3rd quarter valued at $52,000.

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.