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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $53.81.

Several brokerages recently issued reports on TNDM. Royal Bank of Canada began coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price target on the stock. The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price on the stock. Robert W. Baird decreased their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Canaccord Genuity Group cut their price objective on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Monday, December 2nd.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $36.02 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a market cap of $2.37 billion, a P/E ratio of -18.66 and a beta of 1.32. The stock has a 50 day moving average of $32.49 and a two-hundred day moving average of $38.35. Tandem Diabetes Care has a twelve month low of $21.85 and a twelve month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. Tandem Diabetes Care’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.38) EPS. On average, research analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Insider Activity

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now directly owns 195,190 shares in the company, valued at $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TNDM. Brooklyn Investment Group purchased a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $28,000. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care in the third quarter valued at $29,000. ORG Wealth Partners LLC acquired a new position in Tandem Diabetes Care in the third quarter valued at $30,000. Waldron Private Wealth LLC purchased a new position in Tandem Diabetes Care during the third quarter worth about $50,000. Finally, McIlrath & Eck LLC acquired a new stake in Tandem Diabetes Care in the 3rd quarter worth about $52,000.

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.