Tandem Diabetes Care (NASDAQ:TNDM) Given Hold Rating at Bank of America

Bank of America reiterated their hold rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note published on Tuesday morning, TipRanks reports. Bank of America currently has a $100.00 price objective on the medical device company’s stock.

Several other research analysts have also issued reports on TNDM. UBS Group lifted their price target on shares of Tandem Diabetes Care from $98.00 to $106.00 and gave the stock a buy rating in a research report on Monday, June 22nd. Stifel Nicolaus raised their price objective on shares of Tandem Diabetes Care from $65.00 to $75.00 and gave the stock a hold rating in a research note on Friday, May 1st. BidaskClub lowered shares of Tandem Diabetes Care from a buy rating to a hold rating in a research note on Thursday, May 28th. Raymond James raised their price objective on shares of Tandem Diabetes Care from $88.00 to $95.00 and gave the stock an outperform rating in a research note on Thursday, June 18th. Finally, Oppenheimer raised their price objective on shares of Tandem Diabetes Care from $92.00 to $102.00 and gave the stock an outperform rating in a research note on Monday, June 22nd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $93.31.

NASDAQ TNDM opened at $87.81 on Tuesday. Tandem Diabetes Care has a 12 month low of $43.69 and a 12 month high of $99.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.82 and a quick ratio of 2.21. The firm has a market capitalization of $5.28 billion, a PE ratio of -266.08 and a beta of 0.59. The company’s 50 day simple moving average is $84.63 and its 200 day simple moving average is $73.34.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, April 30th. The medical device company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.07). Tandem Diabetes Care had a negative net margin of 4.22% and a negative return on equity of 9.39%. The company had revenue of $97.90 million for the quarter, compared to analyst estimates of $84.49 million. During the same quarter in the prior year, the business earned ($0.40) EPS. Tandem Diabetes Care’s revenue was up 49.2% compared to the same quarter last year. Sell-side analysts anticipate that Tandem Diabetes Care will post -0.49 earnings per share for the current fiscal year.

In related news, CFO Leigh Vosseller sold 10,000 shares of Tandem Diabetes Care stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $90.07, for a total value of $900,700.00. Following the completion of the sale, the chief financial officer now owns 13,265 shares of the company’s stock, valued at approximately $1,194,778.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David B. Berger sold 2,000 shares of Tandem Diabetes Care stock in a transaction on Monday, April 6th. The shares were sold at an average price of $67.59, for a total transaction of $135,180.00. Following the completion of the sale, the executive vice president now directly owns 5,311 shares of the company’s stock, valued at approximately $358,970.49. The disclosure for this sale can be found here. Insiders have sold a total of 21,808 shares of company stock valued at $1,848,680 in the last three months. Company insiders own 6.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC acquired a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at $30,000. Ameritas Investment Company LLC acquired a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at $34,000. Meeder Asset Management Inc. acquired a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at $36,000. Citizens Financial Group Inc RI acquired a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at $61,000. Finally, TRUE Private Wealth Advisors lifted its stake in shares of Tandem Diabetes Care by 47.1% in the 1st quarter. TRUE Private Wealth Advisors now owns 1,125 shares of the medical device company’s stock valued at $72,000 after purchasing an additional 360 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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