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

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $53.81.

Several equities analysts recently issued reports on the company. Barclays raised their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Monday, December 2nd. Robert W. Baird cut their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group reduced their price objective on 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, Citigroup decreased their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th.

Insider Activity

In other news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now directly owns 195,190 shares in the company, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. increased its stake in shares of Tandem Diabetes Care by 235.7% in the 4th quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock valued at $26,875,000 after purchasing an additional 523,843 shares during the last quarter. Bellevue Group AG boosted its position in Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after buying an additional 307,624 shares during the period. Stephens Investment Management Group LLC lifted its holdings in shares of Tandem Diabetes Care by 22.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,555,809 shares of the medical device company’s stock worth $56,040,000 after purchasing an additional 281,327 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tandem Diabetes Care by 397.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 301,614 shares of the medical device company’s stock valued at $11,121,000 after buying an additional 240,966 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Tandem Diabetes Care in the third quarter valued at approximately $10,208,000.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $37.06 on Friday. 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 business’s fifty day moving average price is $34.85 and its two-hundred day moving average price is $37.43. Tandem Diabetes Care has a fifty-two week low of $21.85 and a fifty-two week high of $53.69.

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

Tandem Diabetes Care Company Profile

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.