Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $33.43 Consensus Price Target from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDMGet Free Report) have received an average recommendation of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $33.43.

A number of equities analysts recently weighed in on TNDM shares. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Truist Financial assumed coverage on shares of Tandem Diabetes Care in a research report on Monday, June 16th. They set a “hold” rating and a $24.00 price objective for the company. Mizuho assumed coverage on shares of Tandem Diabetes Care in a report on Thursday, April 10th. They issued a “neutral” rating and a $20.00 target price for the company. The Goldman Sachs Group dropped their target price on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Morgan Stanley cut shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th.

Check Out Our Latest Stock Analysis on Tandem Diabetes Care

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $18.94 on Wednesday. The company has a 50-day simple moving average of $20.49 and a two-hundred day simple moving average of $25.71. Tandem Diabetes Care has a one year low of $15.75 and a one year high of $48.24. The firm has a market capitalization of $1.26 billion, a PE ratio of -6.81 and a beta of 1.52. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last released its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The business had revenue of $234.42 million for the quarter, compared to analysts’ expectations of $220.19 million. During the same quarter in the previous year, the business posted ($0.65) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Tandem Diabetes Care by 1.9% during the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock valued at $683,000 after purchasing an additional 362 shares during the last quarter. Bank of Montreal Can grew its holdings in Tandem Diabetes Care by 4.3% during the 4th quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock valued at $360,000 after purchasing an additional 409 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Tandem Diabetes Care by 8.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock valued at $247,000 after purchasing an additional 525 shares during the last quarter. Assetmark Inc. grew its holdings in Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 525 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 541 shares during the last quarter.

About Tandem Diabetes Care

(Get Free Report

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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