Tandem Diabetes Care Inc (TNDM) Given Average Rating of “Buy” by Brokerages

Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) have been given a consensus rating of “Buy” by the fifteen analysts that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $45.86.

A number of research analysts have issued reports on the company. Robert W. Baird cut Tandem Diabetes Care from an “outperform” rating to a “neutral” rating in a research report on Friday, September 14th. Oppenheimer reiterated a “buy” rating and issued a $57.00 target price on shares of Tandem Diabetes Care in a research report on Tuesday, September 25th. Piper Jaffray Companies restated an “overweight” rating and set a $56.00 price target (up from $32.00) on shares of Tandem Diabetes Care in a report on Wednesday, September 26th. ValuEngine upgraded Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 4th. Finally, MED boosted their price target on Tandem Diabetes Care from $38.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th.

In related news, Director Richard P. Valencia bought 1,300 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average cost of $37.75 per share, for a total transaction of $49,075.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kim D. Blickenstaff sold 198,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $37.01, for a total value of $7,327,980.00. The disclosure for this sale can be found here. Insiders own 9.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in TNDM. Northern Trust Corp bought a new stake in Tandem Diabetes Care in the first quarter valued at approximately $415,000. JPMorgan Chase & Co. acquired a new position in Tandem Diabetes Care in the first quarter valued at approximately $593,000. A.R.T. Advisors LLC lifted its stake in Tandem Diabetes Care by 284.4% in the first quarter. A.R.T. Advisors LLC now owns 38,518 shares of the medical device company’s stock valued at $191,000 after buying an additional 28,499 shares during the period. Barclays PLC lifted its stake in Tandem Diabetes Care by 75.7% in the first quarter. Barclays PLC now owns 47,100 shares of the medical device company’s stock valued at $234,000 after buying an additional 20,300 shares during the period. Finally, Millennium Management LLC acquired a new position in Tandem Diabetes Care in the first quarter valued at approximately $4,225,000. Institutional investors and hedge funds own 62.80% of the company’s stock.

Tandem Diabetes Care stock traded down $1.90 during midday trading on Friday, reaching $37.19. The company’s stock had a trading volume of 1,056,493 shares, compared to its average volume of 2,085,985. Tandem Diabetes Care has a 52 week low of $2.14 and a 52 week high of $52.55. The stock has a market cap of $2.11 billion, a PE ratio of -2.89 and a beta of 0.53.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, November 1st. The medical device company reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.28). Tandem Diabetes Care had a negative net margin of 93.07% and a negative return on equity of 204.32%. The business had revenue of $46.30 million during the quarter, compared to the consensus estimate of $42.71 million. During the same quarter in the prior year, the firm earned ($3.09) EPS. The business’s revenue was up 71.5% on a year-over-year basis. Research analysts forecast that Tandem Diabetes Care will post -1.35 earnings per share for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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