Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stock Has Average Target Price of $27.18

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned an average recommendation of “Hold” from the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $27.08.

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group set a $40.00 price target on shares of Tandem Diabetes Care in a research note on Friday, August 7th. Mizuho set a $18.00 price objective on shares of Tandem Diabetes Care in a report on Tuesday. Barclays upgraded shares of Tandem Diabetes Care to a “hold” rating in a research note on Wednesday, October 7th. William Blair initiated coverage on shares of Tandem Diabetes Care in a research note on Friday, August 21st. They set an “outperform” rating on the stock. Finally, Truist Financial dropped their target price on Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, September 24th.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Leonteq Securities AG raised its stake in shares of Tandem Diabetes Care by 21.7% in the 1st quarter. Leonteq Securities AG now owns 9,501 shares of the medical device company’s stock worth $182,000 after buying an additional 1,695 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Tandem Diabetes Care by 9.1% in the first quarter. Diversified Trust Co now owns 21,332 shares of the medical device company’s stock valued at $409,000 after buying an additional 1,774 shares during the period. OP Asset Management Ltd acquired a new stake in shares of Tandem Diabetes Care in the first quarter valued at $35,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Tandem Diabetes Care in the second quarter valued at $33,000. Finally, 180 Wealth Advisors LLC boosted its stake in Tandem Diabetes Care by 17.3% during the first quarter. 180 Wealth Advisors LLC now owns 15,763 shares of the medical device company’s stock valued at $302,000 after buying an additional 2,320 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $16.24 on Tuesday. Tandem Diabetes Care has a fifty-two week low of $12.26 and a fifty-two week high of $29.65. The firm’s 50-day simple moving average is $18.96 and its 200 day simple moving average is $17.92. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62. The stock has a market cap of $1.13 billion, a P/E ratio of -17.46 and a beta of 1.66.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. The firm had revenue of $254.56 million during the quarter, compared to analyst estimates of $254.99 million. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. Tandem Diabetes Care’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.78) EPS. Equities analysts expect that Tandem Diabetes Care will post -0.66 EPS for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company’s products are designed to work with continuous glucose monitoring (CGM) systems and digital health tools to help automate and personalize insulin therapy.

Tandem’s product portfolio includes the t:slim X2 insulin pump, which features a rechargeable design and software that supports automated insulin delivery. The company also offers the t:slim X2 pump with Control-IQ technology, an algorithm designed to adjust insulin delivery based on CGM readings, and the compact Tandem Mobi pump.