Citigroup Issues Positive Forecast for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its target price hoisted by Citigroup from $10.35 to $11.00 in a report issued on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the medical device company’s stock.

Several other equities research analysts have also issued reports on the company. Barclays dropped their price target on Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Robert W. Baird dropped their price target on Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen lowered Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Wells Fargo & Company dropped their price target on Tandem Diabetes Care from $20.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Finally, UBS Group decreased their target price on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.47.

Tandem Diabetes Care Stock Up 3.5%

Shares of NASDAQ:TNDM opened at $11.05 on Thursday. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. Tandem Diabetes Care has a 52-week low of $9.98 and a 52-week high of $47.60. The company has a 50 day moving average of $15.76 and a two-hundred day moving average of $19.97. The company has a market capitalization of $746.65 million, a price-to-earnings ratio of -3.58 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The firm had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned ($0.47) EPS. As a group, analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Leigh Vosseller acquired 13,720 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $10.89 per share, with a total value of $149,410.80. Following the purchase, the chief financial officer owned 25,580 shares of the company’s stock, valued at approximately $278,566.20. This represents a 115.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John F. Sheridan acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $10.23 per share, for a total transaction of $102,300.00. Following the purchase, the chief executive officer directly owned 106,327 shares in the company, valued at approximately $1,087,725.21. This represents a 10.38% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds have recently modified their holdings of TNDM. Sessa Capital IM L.P. bought a new position in shares of Tandem Diabetes Care in the 1st quarter valued at approximately $85,574,000. Ophir Asset Management Pty Ltd bought a new stake in Tandem Diabetes Care during the second quarter valued at about $27,307,000. Jacobs Levy Equity Management Inc. boosted its holdings in Tandem Diabetes Care by 189.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock valued at $59,830,000 after acquiring an additional 1,086,337 shares during the period. Brown Advisory Inc. bought a new stake in Tandem Diabetes Care during the fourth quarter valued at about $32,889,000. Finally, GW&K Investment Management LLC boosted its holdings in Tandem Diabetes Care by 34.9% during the first quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock valued at $54,874,000 after acquiring an additional 740,499 shares during the period.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.