Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Consensus Recommendation of “Hold” by Brokerages

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received a consensus rating of “Hold” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $21.1875.

TNDM has been the subject of several research reports. Royal Bank Of Canada cut their price objective on Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Stifel Nicolaus initiated coverage on Tandem Diabetes Care in a research note on Tuesday, October 21st. They set a “hold” rating and a $15.00 price objective for the company. Citigroup reiterated a “neutral” rating and set a $15.00 price objective (up from $11.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $24.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 29th. Finally, Wells Fargo & Company cut their price objective on Tandem Diabetes Care from $20.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bayforest Capital Ltd grew its position in Tandem Diabetes Care by 108.1% in the third quarter. Bayforest Capital Ltd now owns 19,295 shares of the medical device company’s stock worth $234,000 after acquiring an additional 10,024 shares during the period. SG Americas Securities LLC lifted its stake in Tandem Diabetes Care by 127.1% during the third quarter. SG Americas Securities LLC now owns 63,051 shares of the medical device company’s stock worth $765,000 after purchasing an additional 35,291 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Tandem Diabetes Care by 270.3% during the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock worth $58,000 after purchasing an additional 3,468 shares in the last quarter. MN Wealth Advisors LLC acquired a new position in Tandem Diabetes Care during the third quarter worth $212,000. Finally, Diversified Trust Co lifted its stake in Tandem Diabetes Care by 12.2% during the third quarter. Diversified Trust Co now owns 18,339 shares of the medical device company’s stock worth $223,000 after purchasing an additional 1,991 shares in the last quarter.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $14.94 on Tuesday. Tandem Diabetes Care has a 12 month low of $9.98 and a 12 month high of $38.28. The stock has a 50 day moving average of $13.14 and a two-hundred day moving average of $16.34. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. The firm has a market cap of $1.01 billion, a P/E ratio of -4.83 and a beta of 1.48.

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

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.