Tandem Diabetes Care Inc (TNDM) Receives Average Recommendation of “Hold” from Brokerages
Tandem Diabetes Care Inc (NASDAQ:TNDM) has received an average recommendation of “Hold” from the ten brokerages that are covering the firm. Six analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $5.08.
TNDM has been the topic of several recent research reports. B. Riley restated a “neutral” rating and set a $1.50 target price on shares of Tandem Diabetes Care in a report on Friday, April 28th. Zacks Investment Research downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Wednesday, March 15th. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of Tandem Diabetes Care in a research note on Thursday, March 30th. Cowen and Company downgraded shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and set a $1.50 price target on the stock. in a research note on Monday, April 10th. Finally, Northcoast Research reaffirmed a “buy” rating on shares of Tandem Diabetes Care in a research note on Thursday, March 9th.
In other news, CEO Kim D. Blickenstaff bought 1,600,000 shares of Tandem Diabetes Care stock in a transaction on Thursday, March 23rd. The stock was purchased at an average cost of $1.25 per share, with a total value of $2,000,000.00. Following the purchase, the chief executive officer now directly owns 2,007,939 shares of the company’s stock, valued at approximately $2,509,923.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 37.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Granite Investment Partners LLC raised its stake in shares of Tandem Diabetes Care by 29.9% in the first quarter. Granite Investment Partners LLC now owns 448,921 shares of the medical device company’s stock worth $539,000 after buying an additional 103,365 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in Tandem Diabetes Care during the fourth quarter worth approximately $116,000. Group One Trading L.P. acquired a new stake in Tandem Diabetes Care during the first quarter worth approximately $185,000. Tocqueville Asset Management L.P. increased its stake in Tandem Diabetes Care by 3.0% in the third quarter. Tocqueville Asset Management L.P. now owns 101,400 shares of the medical device company’s stock worth $777,000 after buying an additional 3,000 shares during the last quarter. Finally, OLD National Bancorp IN increased its stake in Tandem Diabetes Care by 31.0% in the first quarter. OLD National Bancorp IN now owns 119,779 shares of the medical device company’s stock worth $144,000 after buying an additional 28,320 shares during the last quarter. 56.79% of the stock is owned by institutional investors.
Shares of Tandem Diabetes Care (NASDAQ:TNDM) opened at 0.8198 on Friday. The stock’s 50 day moving average price is $0.97 and its 200-day moving average price is $1.87. Tandem Diabetes Care has a 52-week low of $0.80 and a 52-week high of $8.81. The stock’s market cap is $40.86 million.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, April 27th. The medical device company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by $0.09. The business had revenue of $17.50 million for the quarter, compared to analyst estimates of $15.72 million. Tandem Diabetes Care had a negative net margin of 95.57% and a negative return on equity of 220.14%. The business’s revenue was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.68) EPS. On average, analysts predict that Tandem Diabetes Care will post ($1.93) earnings per share for the current fiscal year.
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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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