Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) have been given an average rating of "Moderate Buy" by the seventeen research firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $55.13.

Several equities research analysts recently issued reports on TNDM shares. UBS Group raised shares of Tandem Diabetes Care to a "hold" rating in a research note on Friday, August 2nd. Piper Sandler reiterated an "overweight" rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Canaccord Genuity Group started coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They issued a "buy" rating and a $57.00 target price on the stock. Barclays lifted their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. Finally, Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They issued an "outperform" rating and a $65.00 target price on the stock.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Tandem Diabetes Care by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company's stock worth $207,708,000 after purchasing an additional 18,571 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Tandem Diabetes Care by 79.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,788 shares of the medical device company's stock valued at $171,000 after purchasing an additional 2,562 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Tandem Diabetes Care by 55.7% during the first quarter. GAMMA Investing LLC now owns 3,845 shares of the medical device company's stock worth $136,000 after acquiring an additional 1,375 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Tandem Diabetes Care by 20.3% during the first quarter. Park Avenue Securities LLC now owns 8,650 shares of the medical device company's stock worth $306,000 after acquiring an additional 1,459 shares in the last quarter. Finally, MCF Advisors LLC increased its position in shares of Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company's stock worth $36,000 after acquiring an additional 445 shares in the last quarter.

Tandem Diabetes Care Trading Up 1.5 %

NASDAQ TNDM traded up $0.53 on Friday, hitting $35.34. 1,245,435 shares of the stock were exchanged, compared to its average volume of 1,603,205. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week high of $53.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -16.66 and a beta of 1.33. The company's 50-day moving average price is $42.02 and its two-hundred day moving average price is $41.84.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued 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 company had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS. Research analysts predict that Tandem Diabetes Care will post -1.76 EPS for the current year.

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.