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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given a consensus recommendation of “Hold” by the twenty-two ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $29.1250.

Several equities research analysts recently commented on the stock. Rothschild & Co Redburn set a $45.00 price target on shares of Tandem Diabetes Care in a research note on Friday, April 24th. Truist Financial restated a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Piper Sandler raised Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $33.00 in a report on Tuesday, March 17th. The Goldman Sachs Group set a $21.00 target price on Tandem Diabetes Care in a research report on Wednesday, May 27th. Finally, Bank of America reduced their target price on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, May 18th.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Tandem Diabetes Care by 30.5% during the first quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock worth $4,054,000 after acquiring an additional 49,408 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tandem Diabetes Care by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock worth $1,426,000 after purchasing an additional 2,096 shares during the period. Millennium Management LLC boosted its stake in Tandem Diabetes Care by 41.1% during the 1st quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock worth $4,361,000 after purchasing an additional 66,245 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Tandem Diabetes Care during the 1st quarter worth $225,000. Finally, Goldman Sachs Group Inc. grew its position in Tandem Diabetes Care by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock worth $13,653,000 after purchasing an additional 34,069 shares during the last quarter.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $15.32 on Friday. The firm has a market capitalization of $1.05 billion, a P/E ratio of -10.94 and a beta of 1.58. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week high of $29.65. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. The firm’s 50 day moving average is $16.45 and its two-hundred day moving average is $19.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. The company had revenue of $247.22 million for the quarter, compared to analysts’ expectations of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.66) earnings per share. Research analysts forecast that Tandem Diabetes Care will post -0.72 EPS for the current fiscal 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.