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

Key Points

• Tandem Diabetes Care, Inc. has received a consensus recommendation of "Hold" from fifteen brokerages, with price targets ranging from $14.00 to $45.00.
• CEO John F. Sheridan and CFO Leigh Vosseller significantly increased their ownership by purchasing shares at around $10.23 and $10.89, respectively.
• The company's recent earnings report revealed a loss of ($0.48) per share, missing the consensus estimate, despite a revenue increase of 8.5% year-over-year.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) has received a consensus recommendation of "Hold" from the fifteen ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $22.6667.

TNDM has been the subject of several recent analyst reports. Piper Sandler cut Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $30.00 to $14.00 in a research note on Thursday, August 7th. UBS Group decreased their price target on Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Royal Bank Of Canada decreased their price target on Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Canaccord Genuity Group set a $24.00 price target on Tandem Diabetes Care and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Citigroup reissued a "sell" rating and issued a $14.00 price target (down previously from $24.00) on shares of Tandem Diabetes Care in a research note on Wednesday, July 9th.

Insiders Place Their Bets

In related news, CEO John F. Sheridan purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the transaction, the chief executive officer directly owned 106,327 shares of the company's stock, valued at $1,087,725.21. This trade represents a 10.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Leigh Vosseller purchased 13,720 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $10.89 per share, with a total value of $149,410.80. Following the transaction, the chief financial officer directly owned 25,580 shares in the company, valued at $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC boosted its position in Tandem Diabetes Care by 33.7% during the 4th quarter. LPL Financial LLC now owns 48,036 shares of the medical device company's stock worth $1,730,000 after acquiring an additional 12,099 shares during the period. Wells Fargo & Company MN boosted its position in Tandem Diabetes Care by 35.8% during the 4th quarter. Wells Fargo & Company MN now owns 61,255 shares of the medical device company's stock worth $2,206,000 after acquiring an additional 16,163 shares during the period. Bank of Montreal Can boosted its position in Tandem Diabetes Care by 4.3% during the 4th quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company's stock worth $360,000 after acquiring an additional 409 shares during the period. Renaissance Technologies LLC boosted its position in Tandem Diabetes Care by 50.0% during the 4th quarter. Renaissance Technologies LLC now owns 315,727 shares of the medical device company's stock worth $11,372,000 after acquiring an additional 105,300 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Tandem Diabetes Care during the 4th quarter worth about $5,893,000.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $11.13 on Thursday. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $47.60. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88. The business's fifty day moving average price is $16.99 and its two-hundred day moving average price is $21.04. The firm has a market capitalization of $752.05 million, a PE ratio of -3.60 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.08). Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%. The company had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. During the same period in the prior year, the business earned ($0.47) earnings per share. Tandem Diabetes Care's quarterly revenue was up 8.5% on a year-over-year basis. 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.

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