Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $54.25 Average Price Target from Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eighteen analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $54.25.

TNDM has been the topic of a number of recent analyst reports. Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They set an "outperform" rating and a $42.00 price target on the stock. Canaccord Genuity Group reduced their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Robert W. Baird decreased their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a research report 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 on the stock in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group started coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They set a "neutral" rating and a $46.00 price objective for the company.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares of the company's stock, valued at $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.20% of the company's stock.

Institutional Trading of Tandem Diabetes Care

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp lifted its position in shares of Tandem Diabetes Care by 3.2% during the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company's stock worth $112,630,000 after purchasing an additional 83,172 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company's stock worth $87,595,000 after buying an additional 677,036 shares during the last quarter. Bellevue Group AG boosted its position in shares of Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company's stock valued at $78,496,000 after acquiring an additional 307,624 shares during the period. Geode Capital Management LLC grew its stake in shares of Tandem Diabetes Care by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,525,816 shares of the medical device company's stock worth $64,722,000 after acquiring an additional 18,187 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in shares of Tandem Diabetes Care by 12.2% in the third quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company's stock worth $54,051,000 after acquiring an additional 138,263 shares during the last quarter.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM traded down $0.16 on Friday, reaching $30.11. 923,566 shares of the company traded hands, compared to its average volume of 1,574,824. 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 stock has a market capitalization of $1.98 billion, a PE ratio of -15.60 and a beta of 1.32. The company's 50 day moving average is $33.61 and its 200-day moving average is $40.23. Tandem Diabetes Care has a fifty-two week low of $21.85 and a fifty-two week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings results 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 business had revenue of $243.97 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company posted ($0.38) EPS. As a group, analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal 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.