Tandem Diabetes Care, Inc. (TNDM) Receives Consensus Rating of “Hold” from Analysts
Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $32.43.
TNDM has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research note on Thursday, September 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $15.00 target price on shares of Tandem Diabetes Care in a research note on Friday, October 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $17.00 target price (down from $50.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 10th.
Shares of Tandem Diabetes Care (NASDAQ TNDM) opened at 2.67 on Wednesday. Tandem Diabetes Care has a 52-week low of $2.27 and a 52-week high of $65.50. The stock has a 50 day moving average of $5.52 and a 200 day moving average of $7.26. The firm’s market cap is $13.41 million.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, July 27th. The medical device company reported ($4.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($4.80) by $0.40. The firm 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 company’s revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($6.00) earnings per share. Equities analysts predict that Tandem Diabetes Care will post ($17.06) EPS for the current fiscal year.
In related news, CEO Kim D. Blickenstaff bought 285,700 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The shares were acquired at an average price of $3.50 per share, with a total value of $999,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 20.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TNDM. Bank of America Corp DE increased its position in Tandem Diabetes Care by 88.6% during the first quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock worth $1,032,000 after acquiring an additional 404,452 shares during the period. Russell Investments Group Ltd. bought a new position in Tandem Diabetes Care during the first quarter worth $360,000. Keybank National Association OH increased its position in Tandem Diabetes Care by 32.7% during the second quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock worth $235,000 after acquiring an additional 72,177 shares during the period. Finally, Vanguard Group Inc. increased its position in Tandem Diabetes Care by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after acquiring an additional 32,991 shares during the period.
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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