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Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $33.43 Average Price Target from Brokerages

Tandem Diabetes Care logo with Medical background

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) has earned an average recommendation of "Hold" from the fifteen research firms that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $33.43.

Several equities research analysts have weighed in on the company. Barclays dropped their price objective on Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Wall Street Zen lowered Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Citigroup lifted their price target on shares of Tandem Diabetes Care from $20.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Stifel Nicolaus reduced their price objective on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler dropped their target price on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st.

Get Our Latest Analysis on Tandem Diabetes Care

Tandem Diabetes Care Trading Down 0.9%

Shares of NASDAQ:TNDM traded down $0.17 during trading on Wednesday, reaching $18.94. 1,656,818 shares of the company traded hands, compared to its average volume of 1,463,234. The company has a current ratio of 2.30, a quick ratio of 1.81 and a debt-to-equity ratio of 1.99. Tandem Diabetes Care has a 52-week low of $15.75 and a 52-week high of $48.24. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -6.81 and a beta of 1.52. The business's fifty day moving average is $20.49 and its 200-day moving average is $25.65.

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

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC increased its stake in shares of Tandem Diabetes Care by 39.2% during the first quarter. Voya Investment Management LLC now owns 136,698 shares of the medical device company's stock valued at $2,619,000 after purchasing an additional 38,519 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Tandem Diabetes Care in the 1st quarter worth approximately $343,000. Acadian Asset Management LLC purchased a new stake in shares of Tandem Diabetes Care in the 1st quarter worth approximately $4,457,000. Bayforest Capital Ltd increased its position in Tandem Diabetes Care by 197.0% during the 1st quarter. Bayforest Capital Ltd now owns 26,288 shares of the medical device company's stock valued at $504,000 after buying an additional 17,436 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Tandem Diabetes Care by 9.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 193,993 shares of the medical device company's stock valued at $3,717,000 after buying an additional 16,254 shares during the last quarter.

About Tandem Diabetes Care

(Get Free Report

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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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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