Tandem Diabetes Care, Inc. (NASDAQ: TNDM) has received an average “buy” rating from the thirteen brokers covering the company, MarketBeat Ratings reports. Four investment analysts rated the share with a hold recommendation and eight gave the company a buy recommendation. The average 12-month target price among brokers who updated their coverage for the stock last year is $ 119.62.
A number of research analysts have rated the TNDM share. Zacks Investment Research cut Tandem Diabetes Care’s stock 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. SVB Leerink raised its price target for shares of Tandem Diabetes Care from USD 95.00 to USD 102.00 and rated the shares as “market performance” in a research report on Wednesday, May 12th. Oppenheimer raised his target price on shares of Tandem Diabetes Care from USD 130.00 to USD 135.00 in a research report on Thursday, May 6th. Finally, Lake Street Capital raised its target price on shares of Tandem Diabetes Care from $ 137.00 to $ 150.00 and gave the stock a “Buy” rating in a report on Thursday, February 25th.
TNDM stock opened at $ 78.90 on Monday. The company has a market cap of $ 4.94 billion, a PE ratio of -97.41, 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. Tandem Diabetes Care has a 1-year low of $ 75.26 and a 1-year high of $ 123.74. The company has a 50-day simple moving average of $ 88.38 and a 200-day simple moving average of $ 93.93.
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Tandem Diabetes Care (NASDAQ: TNDM) last released its results on Wednesday May 5th. The medical device company reported earnings per share of $ 0.08 for the quarter, beating Zacks’ consensus estimate of $ 0.16 by $ 0.08. The company posted revenue of $ 141.04 million for the quarter, compared to analyst estimates of $ 122.66 million. Tandem Diabetes Care had a negative net margin of 11.10% and a negative return on equity of 10.98%. As a group, analysts predict that Tandem Diabetes Care will report an EPS of -0.35 for the current financial year.
In related news, director Christopher J. Twomey sold 3,198 shares in the company in a transaction dated Wednesday April 21. The shares were sold at an average price of $ 95.02 for a total value of $ 303,873.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In addition, EVP David B. Berger sold 8,646 shares in the company on Thursday, March 11th. The shares were sold at an average price of $ 90.22 for a total transaction of $ 780,042.12. Upon completion of 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. In the past three months, insiders have sold 211,844 shares in the company, valued at $ 18,537,916. 6.00% of the shares are currently owned by insiders.
A number of institutional investors recently changed their holdings of TNDM. FMR LLC increased its stake in Tandem Diabetes Care by 248.9% in the first quarter. FMR LLC now owns 705,789 shares of the medical device company valued at $ 44,818,000 after purchasing an additional 503,482 shares last quarter. Sei Investments Co. increased its stake in Tandem Diabetes Care by 1.6% in the third quarter. Sei Investments Co. now owns 49,185 shares in the medical device company, valued at $ 5,534,000, after purchasing an additional 793 shares last quarter. Kestra Advisory Services LLC acquired a new stake in Tandem Diabetes Care worth approximately $ 206,000 in the fourth quarter. Candriam Luxembourg SCA increased its stake in Tandem Diabetes Care by 63.7% in the fourth quarter. Candriam Luxembourg SCA now owns 52,370 shares in the medical device company valued at $ 5,011,000 after purchasing an additional 20,370 shares in the last quarter. Finally, Strs Ohio increased its stake in Tandem Diabetes Care by 51.3% in the fourth quarter. Strs Ohio now owns 9,322 shares of the medical device company, valued at $ 891,000, after purchasing an additional 3,160 shares last quarter. Currently 88.60% of the company’s shares are owned by hedge funds and other institutional investors.
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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