Tandem Diabetes Care (NASDAQ:TNDM) had its target price increased by analysts at Raymond James from $95.00 to $116.00 in a research note issued to investors on Friday, AnalystRatings.com reports. The firm presently has an “outperform” rating on the medical device company’s stock. Raymond James’ price objective suggests a potential upside of 11.05% from the company’s current price.
Several other equities analysts have also weighed in on the stock. Cowen upped their price objective on shares of Tandem Diabetes Care from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. BidaskClub lowered Tandem Diabetes Care from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. ValuEngine cut Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Citigroup raised Tandem Diabetes Care from a “neutral” rating to a “buy” rating and upped their target price for the stock from $94.00 to $120.00 in a research report on Monday, July 6th. Finally, Stifel Nicolaus increased their target price on Tandem Diabetes Care from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Tandem Diabetes Care has an average rating of “Buy” and an average target price of $111.62.
TNDM stock opened at $104.46 on Friday. The stock has a 50-day moving average price of $94.92 and a 200-day moving average price of $79.49. Tandem Diabetes Care has a 1-year low of $43.69 and a 1-year high of $110.80. The company has a current ratio of 2.82, a quick ratio of 2.21 and a debt-to-equity ratio of 0.09. The firm has a market cap of $6.28 billion, a PE ratio of -139.28 and a beta of 0.58.
Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, July 30th. The medical device company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.21). Tandem Diabetes Care had a negative return on equity of 14.20% and a negative net margin of 10.29%. The business had revenue of $109.24 million for the quarter, compared to analyst estimates of $86.51 million. On average, analysts forecast that Tandem Diabetes Care will post -0.47 earnings per share for the current year.
In other Tandem Diabetes Care news, Director Christopher J. Twomey sold 7,500 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $100.28, for a total value of $752,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David B. Berger sold 2,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.33, for a total transaction of $156,660.00. Following the transaction, the executive vice president now directly owns 3,961 shares in the company, valued at approximately $310,265.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,000 shares of company stock valued at $11,058,360. Company insiders own 6.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TNDM. Copper Rock Capital Partners LLC purchased a new stake in shares of Tandem Diabetes Care during the 2nd quarter valued at $263,717,000. Wellington Management Group LLP boosted its holdings in shares of Tandem Diabetes Care by 122.9% in the 1st quarter. Wellington Management Group LLP now owns 6,788,022 shares of the medical device company’s stock worth $436,807,000 after buying an additional 3,742,625 shares during the last quarter. BlackRock Inc. grew its position in Tandem Diabetes Care by 2.9% during the first quarter. BlackRock Inc. now owns 4,404,313 shares of the medical device company’s stock valued at $283,418,000 after buying an additional 125,008 shares during the period. Invesco Ltd. increased its holdings in Tandem Diabetes Care by 110.6% during the first quarter. Invesco Ltd. now owns 1,663,692 shares of the medical device company’s stock worth $107,059,000 after buying an additional 873,780 shares during the last quarter. Finally, Brown Capital Management LLC raised its position in Tandem Diabetes Care by 21.9% in the first quarter. Brown Capital Management LLC now owns 1,109,383 shares of the medical device company’s stock worth $71,389,000 after acquiring an additional 199,391 shares during the period. 91.73% 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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