Tandem Diabetes Care (TNDM) Given a $57.00 Price Target by Oppenheimer Analysts

Oppenheimer set a $57.00 target price on Tandem Diabetes Care (NASDAQ:TNDM) in a research report report published on Friday morning. The firm currently has a buy rating on the medical device company’s stock.

Other research analysts have also recently issued research reports about the stock. Cowen restated a buy rating and issued a $28.00 target price on shares of Tandem Diabetes Care in a report on Tuesday, July 31st. Bank of America upgraded shares of Tandem Diabetes Care from an underperform rating to a neutral rating and set a $45.00 target price on the stock in a report on Friday, August 24th. Lake Street Capital raised their target price on shares of Tandem Diabetes Care to $35.00 and gave the stock a buy rating in a report on Tuesday, July 31st. Dougherty & Co began coverage on Tandem Diabetes Care in a research note on Friday, August 24th. They issued a buy rating and a $45.00 price target for the company. Finally, BidaskClub lowered Tandem Diabetes Care from a strong-buy rating to a buy rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $44.27.

Shares of Tandem Diabetes Care stock traded down $1.90 on Friday, hitting $37.19. The stock had a trading volume of 1,062,176 shares, compared to its average volume of 2,010,051. Tandem Diabetes Care has a one year low of $2.14 and a one year high of $52.55.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, November 1st. The medical device company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.28). Tandem Diabetes Care had a negative return on equity of 204.32% and a negative net margin of 93.07%. The firm 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 business posted ($3.09) EPS. The firm’s revenue for the quarter was up 71.5% on a year-over-year basis. As a group, analysts predict that Tandem Diabetes Care will post -1.35 EPS for the current year.

In other Tandem Diabetes Care news, Director Richard P. Valencia purchased 1,300 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was bought at an average price of $37.75 per share, with a total value of $49,075.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kim D. Blickenstaff sold 198,000 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was 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. Company insiders own 9.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in TNDM. US Bancorp DE lifted its position in Tandem Diabetes Care by 397.8% during the third quarter. US Bancorp DE now owns 2,489 shares of the medical device company’s stock valued at $107,000 after buying an additional 1,989 shares during the period. Meeder Asset Management Inc. lifted its position in Tandem Diabetes Care by 1,921.6% during the third quarter. Meeder Asset Management Inc. now owns 2,709 shares of the medical device company’s stock valued at $116,000 after buying an additional 2,575 shares during the period. Legal & General Group Plc purchased a new position in Tandem Diabetes Care during the second quarter valued at $147,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Tandem Diabetes Care during the third quarter valued at $174,000. Finally, Fox Run Management L.L.C. purchased a new position in Tandem Diabetes Care during the third quarter valued at $203,000. 62.80% of the stock is owned by institutional investors.

About Tandem Diabetes Care

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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