Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $54.25

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned an average rating of “Moderate Buy” from the eighteen brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $53.81.

Several research analysts have weighed in on the stock. Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price target on the stock. Citigroup decreased their target price on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday. The Goldman Sachs Group began coverage on Tandem Diabetes Care in a report on Friday, October 4th. They set a “neutral” rating and a $46.00 price target for the company. Robert W. Baird reduced their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group lowered their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now owns 195,190 shares of the company’s stock, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fred Alger Management LLC raised its stake in Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Tandem Diabetes Care by 2,836.2% in 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. Bellevue Group AG grew its position in Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after acquiring an additional 307,624 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Tandem Diabetes Care during the third quarter worth approximately $10,208,000. Finally, First Light Asset Management LLC raised its position in Tandem Diabetes Care by 49.1% during the second quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after purchasing an additional 233,405 shares during the period.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $32.66 on Friday. Tandem Diabetes Care has a one year low of $21.85 and a one year high of $53.69. The business has a fifty day moving average of $32.82 and a 200 day moving average of $39.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market capitalization of $2.15 billion, a P/E ratio of -16.92 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.38) EPS. As a group, sell-side analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current year.

Tandem Diabetes Care Company Profile

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.