Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned an average recommendation of “Moderate Buy” from the eighteen research firms 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 target price among brokers that have issued ratings on the stock in the last year is $53.81.

A number of equities research analysts recently commented on TNDM shares. 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 report on Monday, December 2nd. Robert W. Baird dropped 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 report on Thursday, November 7th. Citigroup decreased 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. The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price on the stock. Finally, Royal Bank of Canada initiated coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price target for the company.

Tandem Diabetes Care Stock Up 2.8 %

Shares of NASDAQ TNDM opened at $36.50 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The company has a 50-day moving average price of $34.15 and a 200-day moving average price of $37.75. The stock has a market capitalization of $2.40 billion, a P/E ratio of -18.91 and a beta of 1.29. Tandem Diabetes Care has a 1 year low of $21.85 and a 1 year 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The business had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.38) EPS. On average, equities research analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Activity

In other news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tandem Diabetes Care

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