Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) have earned a consensus recommendation of “Buy” from the fifteen brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $45.68.
A number of brokerages recently commented on TNDM. Piper Jaffray Companies upgraded Tandem Diabetes Care to an “overweight” rating and set a $25.00 price target on the stock in a research report on Friday, June 22nd. MED raised their price target on Tandem Diabetes Care from $15.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, June 18th. Lake Street Capital began coverage on Tandem Diabetes Care in a research report on Monday, June 18th. They issued a “buy” rating and a $30.00 price target on the stock. Oppenheimer set a $31.00 price target on Tandem Diabetes Care and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research cut Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th.
In other Tandem Diabetes Care news, Director Richard P. Valencia acquired 1,754 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, August 3rd. The shares were acquired at an average cost of $28.50 per share, with a total value of $49,989.00. Following the completion of the purchase, the director now directly owns 1,754 shares of the company’s stock, valued at approximately $49,989. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter valued at about $23,482,000. BlackRock Inc. boosted its stake in shares of Tandem Diabetes Care by 6,936.3% during the second quarter. BlackRock Inc. now owns 2,935,537 shares of the medical device company’s stock valued at $64,641,000 after purchasing an additional 2,893,817 shares in the last quarter. Fred Alger Management Inc. boosted its stake in shares of Tandem Diabetes Care by 9,750.9% during the second quarter. Fred Alger Management Inc. now owns 1,970,184 shares of the medical device company’s stock valued at $43,383,000 after purchasing an additional 1,950,184 shares in the last quarter. Orbimed Advisors LLC acquired a new stake in shares of Tandem Diabetes Care during the second quarter valued at about $37,192,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Tandem Diabetes Care during the second quarter valued at about $27,296,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ TNDM traded up $0.51 during mid-day trading on Wednesday, reaching $36.64. The company had a trading volume of 99,123 shares, compared to its average volume of 2,499,978. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.43 and a current ratio of 3.02. Tandem Diabetes Care has a one year low of $2.14 and a one year high of $52.55. The stock has a market capitalization of $2.28 billion, a P/E ratio of -2.86 and a beta of 0.36.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Monday, July 30th. The medical device company reported ($1.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.82). The company had revenue of $34.10 million during the quarter, compared to the consensus estimate of $29.68 million. During the same quarter in the prior year, the firm earned ($0.44) EPS. The business’s revenue for the quarter was up 60.1% compared to the same quarter last year. Equities research analysts forecast that Tandem Diabetes Care will post -1.41 earnings per share for the current year.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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