Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report) has earned a consensus rating of “Hold” from the twenty-two ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $29.1250.
A number of equities analysts have recently commented on the company. Bank of America cut their price target on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Mizuho set a $24.00 price objective on Tandem Diabetes Care in a research note on Friday, May 8th. Piper Sandler raised Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $33.00 in a report on Tuesday, March 17th. Truist Financial restated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Finally, Zacks Research lowered Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th.
View Our Latest Research Report on TNDM
Tandem Diabetes Care Stock Performance
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The company had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. During the same period last year, the firm earned ($0.66) EPS. Tandem Diabetes Care’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts predict that Tandem Diabetes Care will post -0.72 earnings per share for the current year.
Hedge Funds Weigh In On Tandem Diabetes Care
Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Tandem Diabetes Care by 30.5% during the 1st quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock worth $4,054,000 after acquiring an additional 49,408 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Tandem Diabetes Care by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock worth $1,426,000 after purchasing an additional 2,096 shares in the last quarter. Millennium Management LLC boosted its holdings in Tandem Diabetes Care by 41.1% in the 1st quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock valued at $4,361,000 after purchasing an additional 66,245 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Tandem Diabetes Care in the 1st quarter valued at $225,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Tandem Diabetes Care by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock valued at $13,653,000 after purchasing an additional 34,069 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.
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