Tandem Diabetes Care, Inc. (TNDM) Earns “Hold” Rating from Piper Jaffray Companies

Piper Jaffray Companies reiterated their hold rating on shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in a report issued on Friday. Piper Jaffray Companies currently has a $1.50 price target on the medical device company’s stock.

Separately, Zacks Investment Research upgraded shares of Tandem Diabetes Care from a hold rating to a buy rating and set a $0.75 target price on the stock in a research note on Thursday, September 28th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $4.09.

Shares of Tandem Diabetes Care (TNDM) opened at 5.811 on Friday. Tandem Diabetes Care has a 1-year low of $0.39 and a 1-year high of $7.89. The firm’s market capitalization is $291.87 million. The firm has a 50-day moving average price of $0.68 and a 200-day moving average price of $0.79.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, July 27th. The medical device company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.04. The company had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $21.74 million. Tandem Diabetes Care had a negative net margin of 110.70% and a negative return on equity of 1,177.11%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.60) EPS. On average, analysts forecast that Tandem Diabetes Care will post ($1.79) EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Tandem Diabetes Care by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after purchasing an additional 32,991 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Tandem Diabetes Care by 88.6% in the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after purchasing an additional 404,452 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Tandem Diabetes Care by 93.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after purchasing an additional 280,551 shares in the last quarter. Paulson & CO. Inc. acquired a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at about $600,000. Finally, Keybank National Association OH raised its stake in shares of Tandem Diabetes Care by 32.7% in the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after purchasing an additional 72,177 shares in the last quarter. Institutional investors and hedge funds own 36.64% of the company’s stock.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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