Tandem Diabetes Care (NASDAQ: TNDM) The price target was lowered from USD 115.00 to USD 95.00 by analysts at SVB Leerink in a research note issued to investors on Thursday, reports Benzinga. The broker currently has a “Market Perform” rating for the medical device company’s stock. SVB Leerink’s target price would indicate a potential plus of 7.65% compared to the current price of the share.
Other equity analysts have also published reports on the company. Oppenheimer confirmed a buy rating on shares of Tandem Diabetes Care in a research note on Wednesday. Wells Fargo & Company lowered Tandem Diabetes Care from an “overweight” rating to a “equilibrium” rating and set a price target of $ 105.00 for the Firm. in a research report on Tuesday, December 15th. Lake Street Capital raised its price target for Tandem Diabetes Care from $ 137.00 to $ 150.00 and gave the company a “Buy” research note on Thursday, February 25th. Eventually, Zacks Investment Research cut Tandem Diabetes Care from a “buy” rating to a “hold” rating and set a price target of $ 101.00 for the company. in a research report on Monday March 1st. Five research analysts for stocks have given the stock a hold rating and nine have given it a buy rating. Tandem Diabetes Care has a consensus rating of “Buy” and an average price target of $ 114.86.
Tandem Diabetes Care stock opened at $ 88.25 on Thursday. The stock has a 50-day moving average of $ 91.97 and a 200-day moving average of $ 99.10. Tandem Diabetes Care has a 12-month low of $ 59.24 and a 12-month high of $ 123.74. The company has a market cap of $ 5.52 billion, a PE ratio of -108.95, and a beta of 0.31. The company has a current rate of 5.61, a fast rate of 4.94, and a leverage ratio of 0.61.
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Tandem Diabetes Care (NASDAQ: TNDM) last announced its quarterly results on Tuesday, February 23rd. The medical device company reported earnings per share of $ 0.22 for the quarter, beating analysts’ consensus estimate of $ 0.12 by $ 0.10. The company had revenue of $ 168.07 million for the quarter, compared to analyst estimates of $ 141.13 million. Tandem Diabetes Care achieved a negative return on equity of 10.98% and a negative net margin of 11.10%. As a group, share analysts predict that Tandem Diabetes Care will achieve earnings per share of -0.35 in the current financial year.
In other news, director Kim D. Blickenstaff sold 200,000 shares in the company in a transaction that occurred on Tuesday, March 16. The shares were sold at an average price of $ 87.27 for a total transaction of $ 17,454,000.00. In addition, EVP David B. Berger sold 8,646 shares in the company in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $ 90.22 for a total transaction of $ 780,042.12. Following the sale, the executive vice president now directly owns 13,212 shares in the company valued at approximately $ 1,191,986.64. The disclosure for this sale can be found here. 6.00% of the shares are owned by insiders.
Several hedge funds and other institutional investors recently changed their holdings in the company. US Bancorp DE increased its stake in Tandem Diabetes Care by 16.4% in the fourth quarter. US Bancorp DE now owns 795 shares in the medical device company valued at $ 76,000 after purchasing an additional 112 shares during the period. Manchester Financial Inc. increased its position in Tandem Diabetes Care stocks by 48.4% in the fourth quarter. Manchester Financial Inc. now owns 371 shares in the medical device company valued at $ 35,000 after purchasing an additional 121 shares during the period. Banque Cantonale Vaudoise increased its stake in Tandem Diabetes Care by 5.9% in the fourth quarter. Banque Cantonale Vaudoise now owns 2,929 shares in the medical device company valued at $ 281,000 after buying an additional 164 shares last quarter. Aperio Group LLC increased its position in shares of Tandem Diabetes Care by 5.9% in the third quarter. Aperio Group LLC now owns 3,442 shares in the medical device company valued at $ 391,000 after buying an additional 192 shares last quarter. Finally, WCM Investment Management LLC increased its position in Tandem Diabetes Care stocks by 0.3% in the fourth quarter. WCM Investment Management LLC now owns 72,108 shares of the medical device company valued at $ 6,899,000 after purchasing an additional 198 shares in the last quarter. Currently 88.60% of the shares are owned by institutional investors and hedge funds.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and markets a variety of products for people with insulin-dependent diabetes in the United States. The company’s flagship is the t: slim X2 insulin delivery system, a pump platform that includes the t: slim X2 pump, the disposable 300-unit insulin cartridge and an infusion set.
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