Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been given a consensus recommendation of “Hold” by the eighteen analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $24.3529.

A number of equities research analysts have recently weighed in on TNDM shares. Robert W. Baird set a $30.00 price target on Tandem Diabetes Care and gave the company an “outperform” rating in a report on Tuesday, December 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $25.00 target price on shares of Tandem Diabetes Care in a research note on Friday, January 9th. Barclays raised their price target on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Canaccord Genuity Group set a $35.00 price target on shares of Tandem Diabetes Care and gave the company a “buy” rating in a report on Wednesday, December 17th. Finally, Morgan Stanley set a $23.00 price objective on shares of Tandem Diabetes Care and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $18.99 on Thursday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -6.23 and a beta of 1.68. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $37.71. The company’s 50-day simple moving average is $21.21 and its 200-day simple moving average is $16.71. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, meeting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The firm had revenue of $249.25 million during the quarter, compared to analyst estimates of $235.80 million. During the same period in the previous year, the company earned ($0.35) earnings per share. Tandem Diabetes Care’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Several hedge funds have recently made changes to their positions in TNDM. Freestone Grove Partners LP acquired a new position in shares of Tandem Diabetes Care during the third quarter valued at $22,706,000. Ophir Asset Management Pty Ltd acquired a new position in Tandem Diabetes Care during the 2nd quarter valued at about $27,307,000. Assenagon Asset Management S.A. acquired a new position in Tandem Diabetes Care during the 4th quarter valued at about $26,988,000. ArrowMark Colorado Holdings LLC grew its position in Tandem Diabetes Care by 36.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after purchasing an additional 991,649 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Tandem Diabetes Care by 42.3% in the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after purchasing an additional 601,260 shares during the period.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.