Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts rate Tandem Diabetes Care “Hold” overall: Of 22 firms, 11 recommend holding, nine recommend buying, one strongly recommends buying, and one recommends selling. The average 12-month price target is $28.73.
• Recent analyst actions were mixed, with TD Cowen raising its target to $28 while Bank of America and Citigroup cut targets to $25 and $17, respectively.
• Tandem reported better-than-expected quarterly results, including an adjusted loss of $0.30 per share versus the $0.46 expected and revenue of $247.2 million, up 5.5% year over year. Shares opened at $18.59, while several institutional investors recently established or expanded positions.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twenty-two research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $28.7250.

TNDM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Tandem Diabetes Care in a research note on Tuesday, June 23rd. They issued a "hold" rating and a $15.50 target price for the company. TD Cowen restated a "buy" rating and set a $28.00 price target (up from $25.00) on shares of Tandem Diabetes Care in a research note on Monday, April 20th. Bank of America decreased their price target on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a "neutral" rating for the company in a report on Monday, May 18th. Benchmark assumed coverage on shares of Tandem Diabetes Care in a research note on Monday, May 11th. They set a "hold" rating for the company. Finally, Citigroup reissued a "neutral" rating and set a $17.00 price objective (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th.

Institutional Trading of Tandem Diabetes Care

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Freestone Grove Partners LP acquired a new position in shares of Tandem Diabetes Care in the third quarter valued at about $22,706,000. First Light Asset Management LLC purchased a new position in shares of Tandem Diabetes Care in the fourth quarter worth about $23,947,000. BNP Paribas Financial Markets lifted its holdings in shares of Tandem Diabetes Care by 468.5% during the fourth quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company's stock worth $27,442,000 after purchasing an additional 1,028,866 shares during the period. Marshall Wace LLP acquired a new stake in shares of Tandem Diabetes Care during the fourth quarter worth about $19,244,000. Finally, Defilade Capital Management L.P. purchased a new stake in Tandem Diabetes Care in the first quarter valued at approximately $14,606,000.

Tandem Diabetes Care Trading Up 4.7%

Tandem Diabetes Care stock opened at $18.59 on Thursday. The stock has a 50-day moving average of $16.36 and a two-hundred day moving average of $18.92. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $29.65. The stock has a market cap of $1.27 billion, a PE ratio of -13.28 and a beta of 1.58.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The business had revenue of $247.22 million for the quarter, compared to analyst estimates of $240.41 million. During the same quarter in the previous year, the firm earned ($0.66) earnings per share. The company's revenue was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Tandem Diabetes Care will post -0.72 EPS for the current fiscal year.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc NASDAQ: TNDM, headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company's flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.

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