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

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $54.36.

TNDM has been the topic of a number of recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $45.00 target price on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Canaccord Genuity Group started 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 objective for the company. Barclays raised their target price on Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Oppenheimer boosted their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Finally, UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd.

Tandem Diabetes Care Stock Down 3.7 %

Shares of NASDAQ TNDM opened at $42.45 on Monday. The stock has a fifty day moving average price of $42.18 and a 200 day moving average price of $41.10. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. Tandem Diabetes Care has a 12-month low of $13.82 and a 12-month high of $53.69. The company has a market cap of $2.78 billion, a P/E ratio of -19.56 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.07. The business had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) earnings per share. Research analysts anticipate that Tandem Diabetes Care will post -1.76 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Tandem Diabetes Care by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after buying an additional 30,664 shares during the period. Jennison Associates LLC lifted its holdings in Tandem Diabetes Care by 98.1% in the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after acquiring an additional 1,265,534 shares during the last quarter. Fred Alger Management LLC boosted its stake in Tandem Diabetes Care by 45.2% in the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after acquiring an additional 677,036 shares during the period. Bellevue Group AG boosted its stake in Tandem Diabetes Care by 2.0% in the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock valued at $71,949,000 after acquiring an additional 39,571 shares during the period. Finally, Brown Capital Management LLC grew its holdings in shares of Tandem Diabetes Care by 29.9% during the first quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock valued at $33,801,000 after purchasing an additional 219,940 shares during the last quarter.

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.