Tandem Diabetes Care Inc (NASDAQ:TNDM) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $13.00.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Tandem Diabetes Care from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. Robert W. Baird reissued a “hold” rating and set a $3.00 price target on shares of Tandem Diabetes Care in a report on Sunday, November 19th. Wedbush reissued an “outperform” rating and set a $17.00 price target (down from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $15.00 price target on shares of Tandem Diabetes Care in a report on Friday, October 6th.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in 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 worth $987,000 after purchasing an additional 32,991 shares during the period. Russell Investments Group Ltd. raised its holdings in Tandem Diabetes Care by 13.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock worth $482,000 after purchasing an additional 78,748 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in Tandem Diabetes Care by 88.6% in the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock worth $138,000 after purchasing an additional 88,709 shares during the period.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, October 26th. The medical device company reported ($3.09) earnings per share for the quarter, beating the consensus estimate of ($3.74) by $0.65. The firm had revenue of $27.00 million for the quarter, compared to the consensus estimate of $25.92 million. Tandem Diabetes Care’s quarterly revenue was up 119.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.97) earnings per share. sell-side analysts predict that Tandem Diabetes Care will post -15.15 earnings per share for the current fiscal year.
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About Tandem Diabetes Care
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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