Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) PT at $53.81

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $53.81.

Several equities research analysts have issued reports on TNDM shares. Canaccord Genuity Group dropped their target price 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. Robert W. Baird reduced their target price on 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. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research note on Monday, December 2nd. Barclays raised their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Citigroup dropped their target price on 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.

Tandem Diabetes Care Price Performance

TNDM stock opened at $36.83 on Wednesday. The firm has a 50 day moving average of $32.75 and a 200-day moving average of $38.27. The firm has a market capitalization of $2.42 billion, a P/E ratio of -19.08 and a beta of 1.29. Tandem Diabetes Care has a 12 month low of $21.85 and a 12 month high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last announced 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. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. During the same period last year, the firm earned ($0.38) EPS. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, sell-side analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s 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 sale, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.