Cowen restated their buy rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note released on Tuesday, TipRanks reports. They currently have a $85.00 price target on the medical device company’s stock.
Several other analysts also recently weighed in on the company. Bank of America boosted their target price on Tandem Diabetes Care from $85.00 to $95.00 and gave the company a neutral rating in a report on Friday, May 22nd. SVB Leerink boosted their target price on Tandem Diabetes Care from $85.00 to $88.00 and gave the company a market perform rating in a report on Friday, May 1st. Guggenheim downgraded Tandem Diabetes Care from a buy rating to a neutral rating in a report on Monday, March 23rd. ValuEngine downgraded Tandem Diabetes Care from a buy rating to a hold rating in a report on Friday, May 1st. Finally, Raymond James boosted their target price on Tandem Diabetes Care from $88.00 to $95.00 and gave the company an outperform rating in a report on Thursday, June 18th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $93.31.
Shares of NASDAQ TNDM opened at $87.81 on Tuesday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of -266.08 and a beta of 0.59. 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 business has a 50-day moving average of $84.63 and a two-hundred day moving average of $73.34. Tandem Diabetes Care has a 1 year low of $43.69 and a 1 year high of $99.33.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, April 30th. The medical device company reported ($0.25) earnings per share 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 during the quarter, compared to analysts’ expectations of $84.49 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. The firm’s revenue for the quarter was up 49.2% on a year-over-year basis. As a group, equities research analysts expect that Tandem Diabetes Care will post -0.49 earnings per share for the current year.
In other Tandem Diabetes Care news, EVP David B. Berger sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $67.59, for a total transaction of $135,180.00. Following the transaction, the executive vice president now owns 5,311 shares in the company, valued at approximately $358,970.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher J. Twomey sold 4,308 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $80.00, for a total value of $344,640.00. The disclosure for this sale can be found here. Insiders sold a total of 21,808 shares of company stock worth $1,848,680 in the last 90 days. 6.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNDM. Valeo Financial Advisors LLC acquired a new stake in shares of Tandem Diabetes Care in the 1st quarter worth approximately $30,000. Ameritas Investment Company LLC acquired a new stake in shares of Tandem Diabetes Care in the 1st quarter worth approximately $34,000. Meeder Asset Management Inc. acquired a new stake in shares of Tandem Diabetes Care in the 1st quarter worth approximately $36,000. Citizens Financial Group Inc RI acquired a new stake in shares of Tandem Diabetes Care in the 1st quarter worth approximately $61,000. Finally, TRUE Private Wealth Advisors grew its holdings 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 worth $72,000 after acquiring an additional 360 shares during the period. Institutional investors own 93.44% of the company’s stock.
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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