Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Consensus Recommendation of "Moderate Buy" by Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eighteen ratings firms that are presently covering the stock, Marketbeat reports. Three research 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 brokerages that have updated their coverage on the stock in the last year is $53.81.

TNDM has been the subject of a number of analyst reports. Robert W. Baird cut their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 target price for the company. Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They set a "neutral" rating and a $46.00 price target for the company. Finally, Morgan Stanley raised shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price objective on the stock in a research note on Monday, December 2nd.

Insider Activity

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care in the third quarter valued at about $28,000. Assetmark Inc. acquired a new stake in shares of Tandem Diabetes Care in the third quarter valued at about $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at about $30,000. Waldron Private Wealth LLC acquired a new position in Tandem Diabetes Care during the 3rd quarter worth approximately $50,000. Finally, McIlrath & Eck LLC purchased a new position in Tandem Diabetes Care in the 3rd quarter worth approximately $52,000.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM traded down $0.85 on Wednesday, hitting $36.02. 977,176 shares of the company's stock were exchanged, compared to its average volume of 1,566,100. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -18.66 and a beta of 1.32. The firm's 50-day moving average price is $32.56 and its two-hundred day moving average price is $38.33. Tandem Diabetes Care has a fifty-two week low of $21.85 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced 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. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. During the same quarter last year, the firm posted ($0.38) EPS. The business's revenue was up 31.4% compared to the same quarter last year. On average, research analysts expect that Tandem Diabetes Care will post -1.68 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.