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

Key Points

• Analysts have a consensus “Hold” rating on Tandem Diabetes Care, based on 23 ratings: 11 holds, 10 buys, one strong buy and one sell. The average 12-month price target is $28.98.
• Recent analyst actions were mixed: Citigroup raised its target to $21 while maintaining “neutral,” Canaccord Genuity set a $40 target, and Wells Fargo upgraded the stock to “overweight” with a $27 target.
• Tandem reported a quarterly loss of $0.31 per share, narrowly beating estimates, while revenue reached $254.56 million, up 5.8% year over year but slightly below expectations. The company remains unprofitable, with a negative net margin of 6.08%.

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-three ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $28.9750.

Several equities analysts recently weighed in on TNDM shares. Citigroup reaffirmed a "neutral" rating and issued a $21.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday, August 7th. The Goldman Sachs Group set a $21.00 price target on Tandem Diabetes Care in a research note on Wednesday, May 27th. Canaccord Genuity Group set a $40.00 price objective on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Wells Fargo & Company upgraded shares of Tandem Diabetes Care from a "buy" rating to an "overweight" rating and lifted their target price for the stock from $21.00 to $27.00 in a research report on Monday, June 1st. Finally, Zacks Research cut shares of Tandem Diabetes Care from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 10th.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $22.32 on Monday. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62. Tandem Diabetes Care has a fifty-two week low of $11.16 and a fifty-two week high of $29.65. The stock has a market cap of $1.55 billion, a PE ratio of -24.00 and a beta of 1.53. The firm's fifty day simple moving average is $17.99 and its 200-day simple moving average is $19.08.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.01. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The firm had revenue of $254.56 million during the quarter, compared to analysts' expectations of $254.99 million. During the same quarter last year, the business earned ($0.78) earnings per share. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts expect that Tandem Diabetes Care will post -0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its stake in Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company's stock valued at $27,000 after buying an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Tandem Diabetes Care by 80.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company's stock worth $30,000 after buying an additional 593 shares in the last quarter. OP Asset Management Ltd acquired a new position in shares of Tandem Diabetes Care in the first quarter worth $35,000. Quarry LP raised its holdings in shares of Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company's stock worth $45,000 after acquiring an additional 3,558 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Tandem Diabetes Care by 36.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company's stock valued at $75,000 after acquiring an additional 909 shares in the last quarter.

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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