Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $29.22 Consensus Target Price from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned an average rating of “Hold” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $29.2222.

Several research analysts have recently issued reports on the company. Barclays reaffirmed an “overweight” rating and issued a $56.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, February 23rd. Citigroup lifted their target price on shares of Tandem Diabetes Care from $16.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Bank of America raised shares of Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $15.00 to $30.00 in a report on Friday, February 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $25.00 price target (up from $18.00) on shares of Tandem Diabetes Care in a research note on Friday, January 9th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $28.00 price target on shares of Tandem Diabetes Care in a report on Monday, February 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after buying an additional 278,042 shares during the period. ArrowMark Colorado Holdings LLC lifted its stake in shares of Tandem Diabetes Care by 36.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after acquiring an additional 991,649 shares during the period. Hood River Capital Management LLC boosted its holdings in Tandem Diabetes Care by 10.9% in the second quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock valued at $47,811,000 after acquiring an additional 252,934 shares during the last quarter. Paradice Investment Management LLC boosted its holdings in Tandem Diabetes Care by 24.3% in the third quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock valued at $26,665,000 after acquiring an additional 429,289 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Tandem Diabetes Care by 42.3% during the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after purchasing an additional 601,260 shares during the period.

Tandem Diabetes Care Trading Down 2.1%

NASDAQ TNDM opened at $19.17 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $29.65. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -6.24 and a beta of 1.63. The business’s fifty day moving average is $21.69 and its 200 day moving average is $19.25.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $290.38 million during the quarter, compared to analysts’ expectations of $277.14 million. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. As a group, sell-side analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.