Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.8421.

A number of equities research analysts have recently weighed in on TNDM shares. Citigroup reiterated a “neutral” rating and issued a $17.00 price target (down from $22.00) on shares of Tandem Diabetes Care in a research report on Thursday, May 28th. Piper Sandler upgraded shares of Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $33.00 in a research report on Tuesday, March 17th. Lake Street Capital upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, February 23rd. Mizuho set a $24.00 price target on shares of Tandem Diabetes Care in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Tandem Diabetes Care from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th.

Tandem Diabetes Care Stock Down 4.7%

Shares of TNDM opened at $17.61 on Wednesday. Tandem Diabetes Care has a 12 month low of $9.98 and a 12 month high of $29.65. The firm’s 50 day moving average is $17.92 and its 200-day moving average is $20.34. The stock has a market capitalization of $1.21 billion, a PE ratio of -12.58 and a beta of 1.58. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The company had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. During the same period in the previous year, the business earned ($0.66) earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Tandem Diabetes Care will post -0.74 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its position in shares of Tandem Diabetes Care by 30.8% in the first quarter. California State Teachers Retirement System now owns 84,255 shares of the medical device company’s stock valued at $1,615,000 after buying an additional 19,844 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Tandem Diabetes Care by 123.5% during the 1st quarter. Quantinno Capital Management LP now owns 653,870 shares of the medical device company’s stock worth $12,535,000 after acquiring an additional 361,361 shares in the last quarter. First Light Asset Management LLC boosted its position in shares of Tandem Diabetes Care by 20.7% during the 1st quarter. First Light Asset Management LLC now owns 1,314,715 shares of the medical device company’s stock worth $25,203,000 after acquiring an additional 225,222 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Tandem Diabetes Care by 16.8% during the 1st quarter. Rice Hall James & Associates LLC now owns 72,878 shares of the medical device company’s stock worth $1,397,000 after acquiring an additional 10,463 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Tandem Diabetes Care during the 1st quarter worth approximately $1,116,000.

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.