Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $54.36.

Several equities analysts recently commented on TNDM shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $45.00 price target on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective for the company. UBS Group raised Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price target on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Piper Sandler restated an “overweight” rating and set a $55.00 price target (up from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd.

Tandem Diabetes Care Price Performance

TNDM stock opened at $42.45 on Monday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -19.56 and a beta of 1.32. The company has a quick ratio of 2.38, a current ratio of 3.05 and a debt-to-equity ratio of 1.31. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week high of $53.69. The stock’s fifty day simple moving average is $42.18 and its 200-day simple moving average is $41.18.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The firm had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. During the same period last year, the company earned ($0.30) EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts expect that Tandem Diabetes Care will post -1.76 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in shares of Tandem Diabetes Care by 98.1% during the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after buying an additional 1,265,534 shares during the last quarter. Fred Alger Management LLC boosted its stake in Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after acquiring an additional 677,036 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Tandem Diabetes Care by 2,836.2% during the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after acquiring an additional 389,632 shares during the last quarter. Kingdon Capital Management L.L.C. grew its holdings in Tandem Diabetes Care by 153.9% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after acquiring an additional 298,880 shares in the last quarter. Finally, First Light Asset Management LLC increased its position in shares of Tandem Diabetes Care by 49.1% in the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock worth $28,545,000 after purchasing an additional 233,405 shares during the last quarter.

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.