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

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) have received a consensus recommendation of "Hold" from the fifteen ratings firms that are covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $33.43.

TNDM has been the subject of a number of analyst reports. Truist Financial assumed coverage on Tandem Diabetes Care in a report on Monday, June 16th. They issued a "hold" rating and a $24.00 price target for the company. The Goldman Sachs Group decreased their target price on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Canaccord Genuity Group raised their price target on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Morgan Stanley downgraded shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $45.00 to $22.00 in a research report on Wednesday, March 5th. Finally, Mizuho started coverage on Tandem Diabetes Care in a research report on Thursday, April 10th. They set a "neutral" rating and a $20.00 target price on the stock.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Tandem Diabetes Care by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 388,347 shares of the medical device company's stock worth $13,988,000 after acquiring an additional 18,025 shares during the last quarter. Venturi Wealth Management LLC increased its position in Tandem Diabetes Care by 5,955.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company's stock worth $74,000 after purchasing an additional 2,025 shares in the last quarter. Private Advisor Group LLC raised its stake in Tandem Diabetes Care by 18.1% in the 4th quarter. Private Advisor Group LLC now owns 6,135 shares of the medical device company's stock valued at $221,000 after purchasing an additional 939 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Tandem Diabetes Care in the 4th quarter valued at about $510,000. Finally, Bank of New York Mellon Corp lifted its holdings in Tandem Diabetes Care by 1.0% in the 4th quarter. Bank of New York Mellon Corp now owns 436,692 shares of the medical device company's stock valued at $15,730,000 after purchasing an additional 4,130 shares in the last quarter.

Tandem Diabetes Care Price Performance

Shares of TNDM opened at $20.18 on Wednesday. The company has a 50 day moving average of $20.36 and a two-hundred day moving average of $25.95. The company has a quick ratio of 1.81, a current ratio of 2.30 and a debt-to-equity ratio of 1.99. Tandem Diabetes Care has a twelve month low of $15.75 and a twelve month high of $48.24. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -7.26 and a beta of 1.52.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). The business had revenue of $234.42 million during the quarter, compared to analyst estimates 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 firm's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.65) EPS. As a group, analysts predict that Tandem Diabetes Care will post -1.68 earnings per share 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.

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