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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received a consensus recommendation of “Hold” from the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $24.3529.

Several analysts have issued reports on the stock. Truist Financial set a $24.00 price objective on shares of Tandem Diabetes Care and gave the company a “hold” rating in a research report on Thursday, December 18th. TD Cowen started coverage on shares of Tandem Diabetes Care in a research note on Tuesday, January 27th. They issued a “buy” rating and a $25.00 target price for the company. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $25.00 price target (up from $18.00) on shares of Tandem Diabetes Care in a report on Friday, January 9th. Mizuho lifted their price target on shares of Tandem Diabetes Care from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. Finally, Barclays upped their price objective on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, November 10th.

Tandem Diabetes Care Stock Down 2.3%

Shares of NASDAQ TNDM opened at $18.99 on Thursday. The stock has a fifty day moving average price of $21.21 and a 200 day moving average price of $16.71. 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 has a 12-month low of $9.98 and a 12-month high of $37.71. The company has a market cap of $1.29 billion, a P/E ratio of -6.23 and a beta of 1.68.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TNDM. State of Alaska Department of Revenue increased its holdings in Tandem Diabetes Care by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company’s stock worth $849,000 after purchasing an additional 523 shares during the last quarter. Amalgamated Bank grew its position in shares of Tandem Diabetes Care by 3.5% during the third quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock worth $238,000 after buying an additional 657 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Tandem Diabetes Care by 36.6% in the fourth quarter. Farther Finance Advisors LLC now owns 3,600 shares of the medical device company’s stock worth $79,000 after buying an additional 965 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of Tandem Diabetes Care by 24.4% in the fourth quarter. CoreCap Advisors LLC now owns 5,909 shares of the medical device company’s stock worth $130,000 after buying an additional 1,158 shares during the last quarter. Finally, Diversified Trust Co. raised its holdings in Tandem Diabetes Care by 6.6% in the fourth quarter. Diversified Trust Co. now owns 19,558 shares of the medical device company’s stock valued at $430,000 after acquiring an additional 1,219 shares in the last quarter.

About Tandem Diabetes Care

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.