Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned a consensus rating of “Hold” from the twenty-three research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $29.18.

A number of research firms recently issued reports on TNDM. Citigroup restated a “neutral” rating and set a $21.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, August 7th. Truist Financial cut their price target on shares of Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday. Canaccord Genuity Group set a $40.00 price objective on shares of Tandem Diabetes Care in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Tandem Diabetes Care in a research report on Tuesday, June 23rd. They set a “hold” rating and a $15.50 target price on the stock. Finally, UBS Group initiated coverage on Tandem Diabetes Care in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $18.00 price objective on the stock.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $15.22 on Friday. The company has a debt-to-equity ratio of 4.62, a current ratio of 3.18 and a quick ratio of 2.65. The firm has a market capitalization of $1.06 billion, a P/E ratio of -16.37 and a beta of 1.55. Tandem Diabetes Care has a 1-year low of $11.46 and a 1-year high of $29.65. The company’s 50-day moving average is $19.69 and its 200 day moving average is $18.64.

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 the consensus estimate of ($0.32) by $0.01. The business had revenue of $254.56 million during the quarter, compared to analyst estimates of $254.99 million. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.78) earnings per share. Research analysts forecast that Tandem Diabetes Care will post -0.65 EPS for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in Tandem Diabetes Care during the second quarter worth $33,000. OP Asset Management Ltd purchased a new position in shares of Tandem Diabetes Care in the 1st quarter valued at $35,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Tandem Diabetes Care by 36.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after acquiring an additional 909 shares during the period. Prosperitas Financial LLC bought a new position in shares of Tandem Diabetes Care in the 2nd quarter worth $151,000. Finally, Leonteq Securities AG bought a new position in shares of Tandem Diabetes Care in the 4th quarter worth $172,000.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical technology company that develops and commercializes insulin-delivery systems for people with diabetes. Headquartered in San Diego, California, the company focuses on combining wearable insulin pumps, continuous glucose monitoring connectivity and automated insulin-delivery software to help users manage their blood glucose levels.

Its product portfolio includes the t:slim X2 insulin pump, a touchscreen pump designed for integration with compatible continuous glucose monitors, and the smaller, wearable t:slim Mobi pump.