Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Tandem Diabetes Care has a consensus “Hold” rating from 23 analysts, with 11 holds, 10 buys, one strong buy and one sell. The average 12-month price target is $29.34, above the stock’s reported $17.23 price.
• The company reported a quarterly loss of $0.31 per share, slightly better than analysts’ forecast, while revenue of $254.56 million rose 5.8% year over year but narrowly missed estimates.
• Tandem’s shares have declined 1.7% and trade below their 50-day moving average, with the stock ranging from $11.46 to $29.65 over the past year. The company remains unprofitable, reporting a negative net margin and return on equity.

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twenty-three research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $29.3421.

A number of equities analysts have weighed in on the company. Zacks Research lowered Tandem Diabetes Care from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Tandem Diabetes Care in a research note on Tuesday, June 23rd. They issued a "hold" rating and a $15.50 price target for the company. Wells Fargo & Company upgraded Tandem Diabetes Care from a "buy" rating to an "overweight" rating and raised their price objective for the company from $21.00 to $27.00 in a research report on Monday, June 1st. Royal Bank Of Canada reissued an "outperform" rating and issued a $26.00 target price (down from $30.00) on shares of Tandem Diabetes Care in a report on Friday, August 7th. Finally, Oppenheimer reissued an "outperform" rating on shares of Tandem Diabetes Care in a research note on Friday, August 7th.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently made changes to their positions in the company. OP Asset Management Ltd purchased a new position in Tandem Diabetes Care in the 1st quarter worth about $35,000. Integrated Wealth Concepts LLC acquired a new stake in Tandem Diabetes Care in the second quarter worth about $33,000. Creative Financial Designs Inc. ADV boosted its stake in Tandem Diabetes Care by 36.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company's stock worth $75,000 after purchasing an additional 909 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Tandem Diabetes Care during the fourth quarter valued at $172,000. Finally, Prosperitas Financial LLC purchased a new stake in Tandem Diabetes Care during the 2nd quarter valued at about $151,000.

Tandem Diabetes Care Trading Down 1.7%

Tandem Diabetes Care stock opened at $17.23 on Friday. The business's fifty day simple moving average is $19.60 and its two-hundred day simple moving average is $18.87. The company has a current ratio of 3.18, a quick ratio of 2.65 and a debt-to-equity ratio of 4.62. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -18.53 and a beta of 1.55. Tandem Diabetes Care has a 12 month low of $11.46 and a 12 month high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.01. The company had revenue of $254.56 million for the quarter, compared to the consensus estimate of $254.99 million. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. Tandem Diabetes Care's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.78) EPS. As a group, equities analysts predict that Tandem Diabetes Care will post -0.65 earnings per share for the current fiscal year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical technology company that develops and commercializes insulin-delivery systems for people with diabetes. Headquartered in San Diego, California, the company focuses on combining wearable insulin pumps, continuous glucose monitoring connectivity and automated insulin-delivery software to help users manage their blood glucose levels.

Its product portfolio includes the t:slim X2 insulin pump, a touchscreen pump designed for integration with compatible continuous glucose monitors, and the smaller, wearable t:slim Mobi pump.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.