Tandem Diabetes Care Inc. (NASDAQ:TNDM) Given Consensus Rating of “Hold” by Analysts
Tandem Diabetes Care Inc. (NASDAQ:TNDM) has received an average recommendation of “Hold” from the nine ratings firms that are presently covering the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $16.00.
TNDM has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Tandem Diabetes Care in a research report on Friday, July 29th. Zacks Investment Research upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research note on Wednesday, July 6th.
In related news, EVP John F. Sheridan sold 15,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $6.52, for a total transaction of $97,800.00. Following the completion of the sale, the executive vice president now owns 22,763 shares in the company, valued at approximately $148,414.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 37.10% of the company’s stock.
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A number of hedge funds have recently made changes to their positions in the stock. Hood River Capital Management LLC increased its stake in shares of Tandem Diabetes Care by 2.4% in the second quarter. Hood River Capital Management LLC now owns 528,871 shares of the medical device company’s stock valued at $3,988,000 after buying an additional 12,545 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Tandem Diabetes Care by 1.0% in the second quarter. American Century Companies Inc. now owns 246,224 shares of the medical device company’s stock valued at $1,857,000 after buying an additional 2,483 shares during the last quarter. Dowling & Yahnke LLC acquired a new stake in shares of Tandem Diabetes Care during the second quarter valued at $132,000. Iguana Healthcare Management LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter valued at $1,266,000. Finally, Royal Bank of Canada increased its stake in shares of Tandem Diabetes Care by 48.3% in the first quarter. Royal Bank of Canada now owns 13,959 shares of the medical device company’s stock valued at $122,000 after buying an additional 4,544 shares during the last quarter. Hedge funds and other institutional investors own 58.85% of the company’s stock.
Shares of Tandem Diabetes Care (NASDAQ:TNDM) traded down 0.79% during midday trading on Tuesday, hitting $7.49. The stock had a trading volume of 38,824 shares. The firm’s market cap is $229.29 million. Tandem Diabetes Care has a 12-month low of $6.04 and a 12-month high of $12.48. The firm has a 50-day moving average of $6.87 and a 200 day moving average of $7.90.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, July 28th. The medical device company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.05. Tandem Diabetes Care had a negative return on equity of 132.55% and a negative net margin of 80.21%. The company had revenue of $23 million for the quarter, compared to analyst estimates of $23.08 million. During the same period in the prior year, the firm posted ($0.65) EPS. The business’s revenue was up 46.5% compared to the same quarter last year. On average, analysts expect that Tandem Diabetes Care will post ($2.14) earnings per share for the current year.
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).
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