Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Average Recommendation of “Hold” by Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $29.2222.

TNDM has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and set a $28.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, February 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Tandem Diabetes Care in a report on Wednesday, December 17th. UBS Group restated a “neutral” rating and set a $22.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, February 20th. Truist Financial raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and upped their target price for the stock from $27.00 to $35.00 in a research report on Thursday, March 19th. Finally, Lake Street Capital upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, February 23rd.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $23.32 on Friday. The firm has a 50 day moving average of $21.71 and a 200-day moving average of $19.00. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -7.60 and a beta of 1.63. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week high of $29.65.

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

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds have recently added to or reduced their stakes in TNDM. Caitong International Asset Management Co. Ltd increased its holdings in Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 593 shares in the last quarter. Quarry LP boosted its position in shares of Tandem Diabetes Care by 2,597.1% during the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after buying an additional 3,558 shares during the last quarter. CoreCap Advisors LLC boosted its position in shares of Tandem Diabetes Care by 270.3% during the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after buying an additional 3,468 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in Tandem Diabetes Care by 485.1% during the third quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock worth $63,000 after buying an additional 4,269 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.