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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $28.00.

A number of brokerages have recently weighed in on TNDM. Robert W. Baird set a $30.00 target price on Tandem Diabetes Care and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. Bank of America upgraded Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $15.00 to $30.00 in a research report on Friday, February 20th. UBS Group reissued a “neutral” rating and issued a $22.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, February 20th. Canaccord Genuity Group set a $35.00 target price on shares of Tandem Diabetes Care and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley set a $23.00 target price on Tandem Diabetes Care and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the business. Corient Private Wealth LLC acquired a new position in Tandem Diabetes Care in the 4th quarter valued at approximately $346,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Tandem Diabetes Care in the fourth quarter worth $248,000. EP Wealth Advisors LLC acquired a new stake in Tandem Diabetes Care in the fourth quarter valued at $219,000. Wellington Management Group LLP bought a new position in Tandem Diabetes Care during the 4th quarter worth $2,161,000. Finally, Man Group plc bought a new position in Tandem Diabetes Care during the 4th quarter worth $281,000.

Tandem Diabetes Care Trading Down 1.9%

Shares of Tandem Diabetes Care stock opened at $25.30 on Monday. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.55 and a quick ratio of 2.02. The business has a fifty day simple moving average of $21.34 and a two-hundred day simple moving average of $17.58. Tandem Diabetes Care has a 1 year low of $9.98 and a 1 year high of $29.65. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.24 and a beta of 1.62.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $290.38 million for the quarter, compared to analyst estimates of $277.14 million. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 earnings per share. Research analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current year.

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.