Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have received an average recommendation of “Hold” from the eighteen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.00.

Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Morgan Stanley set a $23.00 price objective on Tandem Diabetes Care and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Barclays upped their target price on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Mizuho raised their price target on shares of Tandem Diabetes Care from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Finally, Truist Financial set a $24.00 price target on shares of Tandem Diabetes Care and gave the stock a “hold” rating in a report on Thursday, December 18th.

Tandem Diabetes Care Stock Performance

TNDM opened at $21.70 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90. Tandem Diabetes Care has a 1 year low of $9.98 and a 1 year high of $37.93. The company has a market capitalization of $1.47 billion, a PE ratio of -7.11 and a beta of 1.68. The business has a fifty day simple moving average of $20.38 and a 200 day simple moving average of $16.28.

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

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors have recently modified their holdings of TNDM. Assenagon Asset Management S.A. bought a new stake in Tandem Diabetes Care during the fourth quarter worth $26,988,000. Diversified Trust Co. increased its position in shares of Tandem Diabetes Care by 6.6% during the 4th quarter. Diversified Trust Co. now owns 19,558 shares of the medical device company’s stock valued at $430,000 after purchasing an additional 1,219 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in shares of Tandem Diabetes Care by 29.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 13,443 shares of the medical device company’s stock worth $295,000 after purchasing an additional 3,047 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Tandem Diabetes Care by 23.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,693 shares of the medical device company’s stock worth $440,000 after buying an additional 3,611 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in Tandem Diabetes Care during the fourth quarter valued at about $207,000.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.