Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $32.71 Consensus Price Target from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) have been assigned a consensus rating of "Hold" from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $32.71.

TNDM has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Wall Street Zen cut shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Citigroup restated a "sell" rating and issued a $14.00 price target (down from $24.00) on shares of Tandem Diabetes Care in a report on Wednesday, July 9th. Truist Financial began coverage on shares of Tandem Diabetes Care in a report on Monday, June 16th. They issued a "hold" rating and a $24.00 price target on the stock. Finally, Canaccord Genuity Group lifted their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaQuest LLC boosted its position in shares of Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after purchasing an additional 541 shares in the last quarter. Assetmark Inc. raised its stake in Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock valued at $34,000 after purchasing an additional 525 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Tandem Diabetes Care during the 1st quarter valued at about $37,000. Brooklyn Investment Group increased its stake in shares of Tandem Diabetes Care by 417.8% during the 1st quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock valued at $65,000 after acquiring an additional 2,741 shares during the last quarter. Finally, State of Wyoming increased its stake in shares of Tandem Diabetes Care by 49.1% during the 1st quarter. State of Wyoming now owns 4,467 shares of the medical device company's stock valued at $86,000 after acquiring an additional 1,471 shares during the last quarter.

Tandem Diabetes Care Trading Down 3.8%

Shares of TNDM traded down $0.59 during midday trading on Friday, hitting $14.77. The stock had a trading volume of 1,684,780 shares, compared to its average volume of 1,506,260. Tandem Diabetes Care has a 1 year low of $14.66 and a 1 year high of $47.60. The firm has a market cap of $983.79 million, a PE ratio of -5.31 and a beta of 1.48. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. The stock's 50 day moving average is $19.61 and its 200 day moving average is $23.66.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The company had revenue of $234.42 million during the quarter, compared to analysts' expectations of $220.19 million. Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. The company's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.65) EPS. As a group, analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

About Tandem Diabetes Care

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.