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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given an average rating of “Hold” by the seventeen analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $22.4375.

Several equities research analysts have recently weighed in on TNDM shares. Stifel Nicolaus initiated coverage on shares of Tandem Diabetes Care in a research note on Tuesday, October 21st. They set a “hold” rating and a $15.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, September 29th. Robert W. Baird set a $30.00 target price on Tandem Diabetes Care and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley set a $23.00 price target on Tandem Diabetes Care and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Finally, Wall Street Zen upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $22.60 on Wednesday. The company’s 50 day simple moving average is $17.64 and its 200-day simple moving average is $16.01. The firm has a market cap of $1.53 billion, a PE ratio of -7.41 and a beta of 1.68. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $38.28. The company has a current ratio of 2.44, a quick ratio of 1.90 and a debt-to-equity ratio of 2.33.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The firm had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. During the same quarter in the prior year, the business earned ($0.35) EPS. Tandem Diabetes Care’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Sessa Capital IM L.P. acquired a new stake in Tandem Diabetes Care in the first quarter valued at about $85,574,000. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Tandem Diabetes Care by 36.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock valued at $44,811,000 after buying an additional 991,649 shares during the period. Hood River Capital Management LLC lifted its holdings in shares of Tandem Diabetes Care by 10.9% in the 2nd quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock valued at $47,811,000 after buying an additional 252,934 shares during the period. Paradice Investment Management LLC boosted its stake in shares of Tandem Diabetes Care by 24.3% in the third quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock valued at $26,665,000 after buying an additional 429,289 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Tandem Diabetes Care during the third quarter worth $22,706,000.

About Tandem Diabetes Care

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.