Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $53.81 Consensus Target Price from Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $53.81.

A number of equities analysts have recently commented on TNDM shares. Royal Bank of Canada assumed coverage on Tandem Diabetes Care in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price target for the company. Barclays lifted their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target on the stock. Citigroup reduced their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Monday, December 2nd.

Insider Activity

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Tandem Diabetes Care

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

Tandem Diabetes Care Trading Up 2.8 %

Shares of TNDM opened at $36.83 on Wednesday. Tandem Diabetes Care has a fifty-two week low of $21.85 and a fifty-two week high of $53.69. The business has a 50-day moving average of $32.75 and a 200 day moving average of $38.24. The firm has a market cap of $2.42 billion, a P/E ratio of -19.08 and a beta of 1.29. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results 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. The company had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. As a group, research analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current 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.