Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Price Target at $54.25

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are covering the firm, Marketbeat Ratings 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 12 month price target among brokerages that have issued a report on the stock in the last year is $53.81.

A number of equities research analysts have recently issued reports on TNDM shares. Barclays upped their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note 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 target for the company in a report on Monday, December 2nd. Citigroup dropped their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. 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 report on Thursday, November 7th. Finally, Royal Bank of Canada began coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 target price on the stock.

Tandem Diabetes Care Trading Down 4.8 %

NASDAQ TNDM opened at $32.66 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The stock’s 50-day simple moving average is $32.82 and its two-hundred day simple moving average is $39.69. Tandem Diabetes Care has a twelve month low of $21.85 and a twelve month high of $53.69. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -16.92 and a beta of 1.32.

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

Insider Activity at Tandem Diabetes Care

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

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds have recently added to or reduced their stakes in TNDM. Price T Rowe Associates Inc. MD increased its holdings in shares of Tandem Diabetes Care by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,732 shares of the medical device company’s stock worth $1,372,000 after purchasing an additional 1,985 shares in the last quarter. LVW Advisors LLC increased its holdings in Tandem Diabetes Care by 15.1% in the 2nd quarter. LVW Advisors LLC now owns 7,869 shares of the medical device company’s stock worth $317,000 after buying an additional 1,034 shares in the last quarter. Diversified Trust Co raised its position in Tandem Diabetes Care by 11.1% in the 2nd quarter. Diversified Trust Co now owns 14,635 shares of the medical device company’s stock worth $590,000 after buying an additional 1,462 shares during the last quarter. ORG Partners LLC bought a new position in Tandem Diabetes Care during the 2nd quarter valued at about $31,000. Finally, Tarbox Family Office Inc. purchased a new stake in shares of Tandem Diabetes Care during the 2nd quarter valued at about $226,000.

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.