Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $53.81

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $53.81.

Several brokerages recently weighed in on TNDM. Sanford C. Bernstein started coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target for the company. The Goldman Sachs Group began coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They set a “neutral” rating and a $46.00 target price for the company. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Monday, December 2nd. Barclays upped their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Canaccord Genuity Group dropped their target price on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th.

Tandem Diabetes Care Trading Up 1.8 %

Shares of NASDAQ:TNDM opened at $37.01 on Friday. The company has a market capitalization of $2.43 billion, a PE ratio of -19.18 and a beta of 1.29. Tandem Diabetes Care has a 12-month low of $21.85 and a 12-month high of $53.69. The business has a 50 day moving average of $34.73 and a two-hundred day moving average of $37.56. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

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

Insider Buying and Selling

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 195,190 shares of the company’s stock, valued at $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Trading of Tandem Diabetes Care

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TNDM. Brooklyn Investment Group acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth approximately $28,000. Assetmark Inc. acquired a new stake in shares of Tandem Diabetes Care in the third quarter valued at $29,000. ORG Wealth Partners LLC acquired a new position in Tandem Diabetes Care during the 3rd quarter worth $30,000. Waldron Private Wealth LLC purchased a new stake in Tandem Diabetes Care during the 3rd quarter worth about $50,000. Finally, McIlrath & Eck LLC acquired a new stake in Tandem Diabetes Care in the 3rd quarter valued at about $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.