Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Free Report) have been given a consensus rating of “Hold” by the twenty-three brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.18.
A number of equities research analysts have weighed in on TNDM shares. UBS Group assumed coverage on shares of Tandem Diabetes Care in a research note on Tuesday, July 28th. They set a “neutral” rating and a $18.00 price target on the stock. Truist Financial dropped their price objective on shares of Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. William Blair began coverage on shares of Tandem Diabetes Care in a report on Friday, August 21st. They set an “outperform” rating for the company. Citigroup reduced their price objective on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, September 30th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Tandem Diabetes Care in a research report on Friday, August 7th.
Read Our Latest Report on Tandem Diabetes Care
Insider Transactions at Tandem Diabetes Care
In other Tandem Diabetes Care news, Director Christopher J. Twomey sold 1,700 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $19.15, for a total transaction of $32,555.00. Following the completion of the transaction, the director owned 24,434 shares in the company, valued at $467,911.10. This trade represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Tandem Diabetes Care
A number of hedge funds have recently modified their holdings of TNDM. Sterling Capital Management LLC grew its position in shares of Tandem Diabetes Care by 849.0% during the 3rd quarter. Sterling Capital Management LLC now owns 2,325 shares of the medical device company’s stock worth $38,000 after buying an additional 2,080 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Tandem Diabetes Care in the 2nd quarter valued at about $33,000. 180 Wealth Advisors LLC raised its position in shares of Tandem Diabetes Care by 17.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 15,763 shares of the medical device company’s stock valued at $302,000 after acquiring an additional 2,320 shares during the period. Summit Global Investments raised its position in shares of Tandem Diabetes Care by 13.9% in the 3rd quarter. Summit Global Investments now owns 24,753 shares of the medical device company’s stock valued at $404,000 after acquiring an additional 3,017 shares during the period. Finally, Fulcrum Asset Management LLP grew its holdings in Tandem Diabetes Care by 1,463.6% during the third quarter. Fulcrum Asset Management LLP now owns 4,378 shares of the medical device company’s stock valued at $73,000 after purchasing an additional 4,098 shares during the period.
Tandem Diabetes Care Trading Up 7.5%
Tandem Diabetes Care stock opened at $18.17 on Friday. The business has a 50 day moving average price of $17.58 and a two-hundred day moving average price of $18.87. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62. Tandem Diabetes Care has a 12 month low of $12.26 and a 12 month high of $29.65. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -25.24 and a beta of 1.59.
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The medical device company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.15. The company had revenue of $283.69 million for the quarter, compared to analyst estimates of $265.85 million. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%. Tandem Diabetes Care’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.31) EPS. As a group, equities analysts forecast that Tandem Diabetes Care will post -0.66 EPS for the current year.
About Tandem Diabetes Care
Tandem Diabetes Care develops and commercializes technology for people who use insulin to manage diabetes. Its products include insulin pumps, infusion sets and related supplies, along with software for viewing and sharing diabetes-management data.
The company’s offerings include the t:slim X2 insulin pump and the Tandem Mobi pump, as well as Control-IQ technology, which can automatically adjust insulin delivery based on continuous glucose monitor readings when used with compatible devices.
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