Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $45.38.

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Morgan Stanley cut shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $45.00 to $22.00 in a report on Wednesday, March 5th. Canaccord Genuity Group reissued a “buy” rating and set a $63.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Citigroup cut shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and lowered their target price for the company from $35.00 to $24.00 in a report on Tuesday, March 4th. Finally, Royal Bank of Canada lowered their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th.

Insider Activity at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of Tandem Diabetes Care stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $18.12 per share, with a total value of $190,948.56. Following the completion of the purchase, the chief operating officer now owns 10,538 shares of the company’s stock, valued at $190,948.56. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in shares of Tandem Diabetes Care during the third quarter valued at about $28,000. Assetmark Inc. bought a new position in shares of Tandem Diabetes Care during the third quarter valued at about $29,000. AlphaQuest LLC grew its stake in shares of Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after buying an additional 541 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after buying an additional 748 shares during the last quarter. Finally, McIlrath & Eck LLC bought a new position in shares of Tandem Diabetes Care during the third quarter valued at about $52,000.

Tandem Diabetes Care Trading Down 1.7 %

NASDAQ:TNDM opened at $20.29 on Monday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $1.35 billion, a PE ratio of -10.51 and a beta of 1.45. The firm’s 50 day moving average is $29.70 and its 200 day moving average is $33.86. Tandem Diabetes Care has a 12 month low of $17.64 and a 12 month high of $53.69.

About Tandem Diabetes Care

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.