Oppenheimer initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note released on Tuesday, TipRanks reports. The firm issued a buy rating and a $102.00 price target on the medical device company’s stock.
Several other research firms also recently weighed in on TNDM. Lake Street Capital raised their price target on shares of Tandem Diabetes Care from $100.00 to $125.00 in a research note on Thursday, June 18th. SVB Leerink raised their price target on shares of Tandem Diabetes Care from $85.00 to $88.00 and gave the stock a market perform rating in a research note on Friday, May 1st. Raymond James raised their price target 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. Stifel Nicolaus raised their price target 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. Finally, Craig Hallum decreased their price target on shares of Tandem Diabetes Care from $108.00 to $102.00 and set a buy rating on the stock in a research note on Monday, April 20th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $93.31.
TNDM stock opened at $87.81 on Tuesday. The firm has a market cap of $5.28 billion, a PE ratio of -266.08 and a beta of 0.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.21 and a current ratio of 2.82. The firm’s fifty day moving average is $84.63 and its 200 day moving average is $73.34. Tandem Diabetes Care has a one year low of $43.69 and a one year high of $99.33.
Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, April 30th. The medical device company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ 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 firm 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 posted ($0.40) EPS. The firm’s quarterly revenue was up 49.2% compared to the same quarter last year. Research analysts predict that Tandem Diabetes Care will post -0.49 earnings per share for the current fiscal year.
In other news, EVP David B. Berger sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $67.59, for a total value of $135,180.00. Following the sale, the executive vice president now directly owns 5,311 shares of the company’s stock, valued at approximately $358,970.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Leigh Vosseller sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $90.07, for a total transaction of $900,700.00. Following the completion of the sale, the chief financial officer now directly owns 13,265 shares in the company, valued at $1,194,778.55. The disclosure for this sale can be found here. Insiders have sold 21,808 shares of company stock worth $1,848,680 over the last ninety days. 6.00% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC raised its stake in shares of Tandem Diabetes Care by 36.6% in the 1st quarter. Guggenheim Capital LLC now owns 6,253 shares of the medical device company’s stock valued at $402,000 after acquiring an additional 1,676 shares during the period. Advisor Group Holdings Inc. purchased a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at approximately $521,000. Ameritas Investment Company LLC purchased a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at approximately $34,000. Caxton Associates LP purchased a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at approximately $283,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at approximately $36,000. 93.44% of the stock is currently 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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