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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given an average recommendation of “Hold” by the nineteen ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $28.00.

A number of equities analysts have issued reports on the company. The Goldman Sachs Group restated a “neutral” rating and set a $28.00 target price on shares of Tandem Diabetes Care in a report on Monday, February 23rd. Stifel Nicolaus boosted their price target on Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, February 20th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price target (up from $14.00) on shares of Tandem Diabetes Care in a research note on Friday, February 20th. UBS Group reaffirmed a “neutral” rating and issued a $22.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, February 20th. Finally, Robert W. Baird set a $30.00 price target on Tandem Diabetes Care and gave the company an “outperform” rating in a research report on Tuesday, December 16th.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of institutional investors have recently added to or reduced their stakes in TNDM. Vanguard Group Inc. lifted its stake in Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after acquiring an additional 278,042 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after purchasing an additional 991,649 shares during the period. Hood River Capital Management LLC increased its position in Tandem Diabetes Care by 10.9% during the second quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock worth $47,811,000 after buying an additional 252,934 shares during the last quarter. Paradice Investment Management LLC increased its position in Tandem Diabetes Care by 24.3% during the third quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock worth $26,665,000 after buying an additional 429,289 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Tandem Diabetes Care by 42.3% in the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after buying an additional 601,260 shares during the period.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $25.30 on Monday. The stock has a 50-day simple moving average of $21.34 and a 200 day simple moving average of $17.58. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.24 and a beta of 1.62. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $290.38 million during the quarter, compared to analysts’ expectations of $277.14 million. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 EPS. On average, research analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

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.