Tandem Diabetes Care (NASDAQ:TNDM) Upgraded by ValuEngine to “Strong-Buy”

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Monday, ValuEngine reports.

A number of other research firms also recently commented on TNDM. UBS Group upped their price objective on shares of Tandem Diabetes Care from $53.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Svb Leerink started coverage on shares of Tandem Diabetes Care in a research note on Monday, May 13th. They set an “outperform” rating and a $83.00 price objective for the company. Oppenheimer upped their price objective on shares of Tandem Diabetes Care from $80.00 to $84.00 in a research note on Friday, August 2nd. Bank of America reaffirmed a “neutral” rating and set a $65.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, May 17th. Finally, Leerink Swann started coverage on shares of Tandem Diabetes Care in a research note on Monday, May 13th. They set an “outperform” rating and a $83.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Tandem Diabetes Care presently has a consensus rating of “Buy” and an average target price of $68.38.

NASDAQ:TNDM traded down $1.96 on Monday, reaching $61.91. The stock had a trading volume of 928,250 shares, compared to its average volume of 1,749,918. The stock has a market cap of $3.72 billion, a P/E ratio of -24.28 and a beta of 0.33. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $63.77. Tandem Diabetes Care has a 12-month low of $26.40 and a 12-month high of $74.81.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.20. Tandem Diabetes Care had a negative net margin of 19.55% and a negative return on equity of 19.31%. The company had revenue of $93.26 million during the quarter, compared to the consensus estimate of $69.95 million. During the same quarter in the prior year, the company posted ($0.33) EPS. The company’s quarterly revenue was up 173.2% compared to the same quarter last year. As a group, analysts anticipate that Tandem Diabetes Care will post -0.65 earnings per share for the current year.

In related news, EVP David B. Berger sold 2,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $62.56, for a total transaction of $125,120.00. Following the completion of the sale, the executive vice president now owns 5,311 shares of the company’s stock, valued at approximately $332,256.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas A. Roeder sold 9,471 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.01, for a total transaction of $663,064.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,537 shares of company stock valued at $7,069,162. Corporate insiders own 6.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eagle Asset Management Inc. boosted its holdings in Tandem Diabetes Care by 24.4% in the 1st quarter. Eagle Asset Management Inc. now owns 1,307,033 shares of the medical device company’s stock worth $82,996,000 after acquiring an additional 256,595 shares during the period. Carillon Tower Advisers Inc. boosted its holdings in Tandem Diabetes Care by 26.1% in the 1st quarter. Carillon Tower Advisers Inc. now owns 922,735 shares of the medical device company’s stock worth $58,593,000 after acquiring an additional 190,728 shares during the period. Renaissance Technologies LLC boosted its holdings in Tandem Diabetes Care by 15.9% in the 2nd quarter. Renaissance Technologies LLC now owns 897,927 shares of the medical device company’s stock worth $57,934,000 after acquiring an additional 123,500 shares during the period. FMR LLC boosted its holdings in Tandem Diabetes Care by 248.9% in the 1st quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock worth $44,818,000 after acquiring an additional 503,482 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Tandem Diabetes Care by 10.6% in the 4th quarter. Geode Capital Management LLC now owns 647,594 shares of the medical device company’s stock worth $24,589,000 after acquiring an additional 61,922 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

About Tandem Diabetes Care

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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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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