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

Key Points

• Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received a consensus rating of "Hold" from analysts, with an average target price of $22.44.
• The company reported a quarterly earnings loss of ($0.48) per share, missing estimates, but achieved a revenue of $240.68 million, up 8.5% year-over-year.
• Insider buying was notable, as CFO Leigh Vosseller and CEO John F. Sheridan purchased shares, indicating confidence in the company's potential growth.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) has been given an average rating of "Hold" by the sixteen analysts that are covering the firm, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.4375.

Several research firms have issued reports on TNDM. Wall Street Zen lowered Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Canaccord Genuity Group restated a "buy" rating and issued a $24.00 price objective on shares of Tandem Diabetes Care in a research note on Monday. Wells Fargo & Company lowered their target price on Tandem Diabetes Care from $20.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Citigroup increased their target price on Tandem Diabetes Care from $10.35 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Finally, Piper Sandler lowered Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $30.00 to $14.00 in a research note on Thursday, August 7th.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $13.11 on Friday. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. The stock's 50 day moving average price is $12.69 and its two-hundred day moving average price is $16.84. The firm has a market capitalization of $885.83 million, a price-to-earnings ratio of -4.24 and a beta of 1.48. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $42.70.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The business had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. Tandem Diabetes Care's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. On average, analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Leigh Vosseller bought 13,720 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the purchase, the chief financial officer owned 25,580 shares in the company, valued at approximately $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John F. Sheridan bought 10,000 shares of the stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the purchase, the chief executive officer 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 disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of large investors have recently added to or reduced their stakes in TNDM. Assetmark Inc. grew its position in Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after buying an additional 525 shares in the last quarter. NBC Securities Inc. acquired a new stake in Tandem Diabetes Care during the first quarter worth approximately $37,000. CWM LLC grew its position in Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company's stock worth $52,000 after buying an additional 2,025 shares in the last quarter. Brooklyn Investment Group grew its position in Tandem Diabetes Care by 417.8% during the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock worth $65,000 after buying an additional 2,741 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Tandem Diabetes Care by 186.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company's stock worth $78,000 after buying an additional 2,717 shares in the last quarter.

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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