Tandem Diabetes Care (NASDAQ:TNDM) Issues Earnings Results

Tandem Diabetes Care (NASDAQ:TNDMGet Rating) issued its quarterly earnings results on Wednesday. The medical device company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16), MarketWatch Earnings reports. The firm had revenue of $175.91 million during the quarter, compared to the consensus estimate of $168.21 million. Tandem Diabetes Care had a net margin of 2.21% and a return on equity of 4.58%. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) earnings per share.

Shares of TNDM opened at $94.43 on Thursday. The firm has a market cap of $6.04 billion, a P/E ratio of 410.57 and a beta of 0.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 5.63 and a current ratio of 6.15. Tandem Diabetes Care has a 52 week low of $76.19 and a 52 week high of $155.86. The firm’s 50-day simple moving average is $110.91 and its 200 day simple moving average is $123.44.

In other news, COO David B. Berger sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $112.68, for a total value of $112,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rebecca B. Robertson sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $96.73, for a total transaction of $145,095.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,905 shares of company stock worth $842,555. Insiders own 4.80% of the company’s stock.

Large investors have recently made changes to their positions in the business. Neo Ivy Capital Management increased its holdings in shares of Tandem Diabetes Care by 314.8% during the fourth quarter. Neo Ivy Capital Management now owns 589 shares of the medical device company’s stock worth $89,000 after purchasing an additional 447 shares during the period. Cetera Investment Advisers acquired a new stake in Tandem Diabetes Care during the fourth quarter worth approximately $221,000. Flagship Harbor Advisors LLC bought a new position in Tandem Diabetes Care during the 4th quarter worth $253,000. Comerica Bank lifted its position in shares of Tandem Diabetes Care by 0.4% during the 4th quarter. Comerica Bank now owns 28,682 shares of the medical device company’s stock valued at $3,358,000 after acquiring an additional 125 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Tandem Diabetes Care by 1.4% during the 4th quarter. MetLife Investment Management LLC now owns 30,789 shares of the medical device company’s stock valued at $4,634,000 after acquiring an additional 436 shares during the period. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Several research firms have commented on TNDM. Bank of America initiated coverage on Tandem Diabetes Care in a research note on Wednesday, March 2nd. They issued a “neutral” rating and a $130.00 target price on the stock. SVB Leerink restated a “market perform” rating on shares of Tandem Diabetes Care in a report on Monday, April 18th. Piper Sandler lowered their price target on shares of Tandem Diabetes Care from $170.00 to $120.00 in a research note on Thursday. Citigroup reduced their price objective on shares of Tandem Diabetes Care from $163.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, February 23rd. Finally, Wells Fargo & Company lifted their target price on Tandem Diabetes Care from $160.00 to $166.00 and gave the company an “overweight” rating in a research report on Wednesday, February 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $138.45.

Tandem Diabetes Care Company Profile (Get Rating)

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

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Earnings History for Tandem Diabetes Care (NASDAQ:TNDM)

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