Oppenheimer Reaffirms Buy Rating for Tandem Diabetes Care (NASDAQ:TNDM)

Oppenheimer restated their buy rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note published on Monday morning, AnalystRatings.com reports. The brokerage currently has a $120.00 price objective on the medical device company’s stock.

Other analysts have also recently issued reports about the company. SVB Leerink upped their target price on Tandem Diabetes Care from $115.00 to $120.00 and gave the company a market perform rating in a research report on Friday, August 28th. Raymond James upped their target price on Tandem Diabetes Care from $95.00 to $116.00 and gave the company an outperform rating in a research report on Friday, July 31st. UBS Group upped their target price on Tandem Diabetes Care from $98.00 to $106.00 and gave the company a buy rating in a research report on Monday, June 22nd. Craig Hallum upped their target price on Tandem Diabetes Care from $102.00 to $140.00 and gave the company a buy rating in a research report on Friday, July 31st. Finally, Piper Sandler upped their target price on Tandem Diabetes Care from $90.00 to $125.00 and gave the company an overweight rating in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of Buy and an average target price of $113.86.

NASDAQ:TNDM opened at $106.54 on Monday. The stock has a 50-day simple moving average of $106.34 and a 200-day simple moving average of $87.73. The stock has a market cap of $6.49 billion, a P/E ratio of -142.05 and a beta of 0.50. Tandem Diabetes Care has a 1 year low of $43.69 and a 1 year high of $116.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.18 and a current ratio of 4.72.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, July 30th. The medical device company reported ($0.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.21). The business had revenue of $109.24 million for the quarter, compared to analyst estimates of $86.51 million. Tandem Diabetes Care had a negative return on equity of 12.88% and a negative net margin of 10.29%. On average, equities research analysts predict that Tandem Diabetes Care will post -0.27 EPS for the current year.

In other news, CFO Leigh Vosseller sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $95.04, for a total transaction of $950,400.00. Following the completion of the transaction, the chief financial officer now directly owns 14,520 shares of the company’s stock, valued at approximately $1,379,980.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Susan Morrison sold 50,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $108.58, for a total value of $5,429,000.00. Following the transaction, the executive vice president now directly owns 36,256 shares of the company’s stock, valued at $3,936,676.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 519,610 shares of company stock valued at $54,796,508. Company insiders own 6.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Hoover Financial Advisors Inc. purchased a new position in shares of Tandem Diabetes Care during the 2nd quarter worth approximately $26,000. CSat Investment Advisory L.P. purchased a new position in Tandem Diabetes Care in the 2nd quarter valued at approximately $33,000. Ameritas Investment Company LLC purchased a new position in Tandem Diabetes Care in the 1st quarter valued at approximately $34,000. Private Advisor Group LLC purchased a new position in Tandem Diabetes Care in the 2nd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. purchased a new position in Tandem Diabetes Care in the 1st quarter valued at approximately $36,000.

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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