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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $54.36.

A number of equities analysts have recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of Tandem Diabetes Care in a research report on Thursday, May 30th. They set a “buy” rating and a $60.00 price objective on the stock. Robert W. Baird raised their price target on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Oppenheimer raised their price target on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. Wells Fargo & Company raised their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group assumed coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target on the stock.

Institutional Investors Weigh In On Tandem Diabetes Care

Several large investors have recently modified their holdings of TNDM. Jennison Associates LLC increased its stake in shares of Tandem Diabetes Care by 98.1% during the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after purchasing an additional 1,265,534 shares during the last quarter. Fred Alger Management LLC grew its stake in Tandem Diabetes Care by 45.2% in the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after buying an additional 677,036 shares in the last quarter. Victory Capital Management Inc. grew its stake in Tandem Diabetes Care by 2,836.2% in the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after buying an additional 389,632 shares in the last quarter. Kingdon Capital Management L.L.C. grew its stake in Tandem Diabetes Care by 153.9% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock valued at $17,460,000 after buying an additional 298,880 shares in the last quarter. Finally, First Light Asset Management LLC grew its stake in Tandem Diabetes Care by 49.1% in the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after buying an additional 233,405 shares in the last quarter.

Tandem Diabetes Care Price Performance

TNDM stock opened at $44.63 on Monday. The stock has a market capitalization of $2.88 billion, a PE ratio of -20.57 and a beta of 1.32. The company’s 50-day moving average is $42.26 and its 200-day moving average is $40.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38. Tandem Diabetes Care has a 1 year low of $13.82 and a 1 year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. The company had revenue of $221.90 million for the quarter, compared to analysts’ expectations of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.30) EPS. Equities research analysts expect that Tandem Diabetes Care will post -1.76 EPS for the current fiscal year.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.