Piper Sandler Increases Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $90.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price lifted by equities research analysts at Piper Sandler from $70.00 to $90.00 in a report released on Tuesday, The Fly reports. The firm currently has an “overweight” rating on the medical device company’s stock. Piper Sandler’s price target indicates a potential upside of 17.60% from the company’s previous close. Piper Sandler also issued estimates for Tandem Diabetes Care’s Q2 2020 earnings at $0.01 EPS and Q4 2021 earnings at $0.14 EPS.

Several other research firms have also recently issued reports on TNDM. Cowen reaffirmed an “outperform” rating and set a $90.00 price target (up from $85.00) on shares of Tandem Diabetes Care in a research note on Tuesday. Craig Hallum raised their price target on shares of Tandem Diabetes Care from $92.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus raised their price target on shares of Tandem Diabetes Care from $70.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday. Raymond James raised their price target on shares of Tandem Diabetes Care from $85.00 to $91.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, ValuEngine raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Tandem Diabetes Care has a consensus rating of “Buy” and an average target price of $83.60.

Shares of NASDAQ TNDM opened at $76.53 on Tuesday. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -159.43 and a beta of 0.08. Tandem Diabetes Care has a 52 week low of $51.37 and a 52 week high of $91.65. The company’s 50-day moving average price is $75.50 and its 200 day moving average price is $65.85. The company has a current ratio of 2.78, a quick ratio of 2.05 and a debt-to-equity ratio of 0.07.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Monday, February 24th. The medical device company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.07. Tandem Diabetes Care had a negative net margin of 6.83% and a negative return on equity of 8.99%. The firm had revenue of $108.40 million for the quarter, compared to analysts’ expectations of $109.22 million. During the same period in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 42.3% on a year-over-year basis. As a group, research analysts expect that Tandem Diabetes Care will post 0.04 earnings per share for the current year.

In other news, CFO Leigh Vosseller sold 10,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $75.93, for a total transaction of $759,300.00. Following the transaction, the chief financial officer now directly owns 12,882 shares in the company, valued at approximately $978,130.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David B. Berger sold 8,000 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $67.83, for a total transaction of $542,640.00. Following the transaction, the executive vice president now owns 11,311 shares in the company, valued at $767,225.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 299,316 shares of company stock worth $19,481,161. Insiders own 6.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bridge City Capital LLC purchased a new position in Tandem Diabetes Care in the fourth quarter valued at approximately $1,697,000. Metropolitan Life Insurance Co NY raised its holdings in Tandem Diabetes Care by 9.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 17,967 shares of the medical device company’s stock valued at $1,060,000 after buying an additional 1,512 shares during the period. Alpha Windward LLC purchased a new position in Tandem Diabetes Care in the fourth quarter valued at approximately $443,000. California State Teachers Retirement System raised its holdings in Tandem Diabetes Care by 2.2% in the third quarter. California State Teachers Retirement System now owns 87,360 shares of the medical device company’s stock valued at $5,152,000 after buying an additional 1,904 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Tandem Diabetes Care by 39.0% in the third quarter. California Public Employees Retirement System now owns 134,317 shares of the medical device company’s stock valued at $7,922,000 after buying an additional 37,684 shares during the period. Hedge funds and other institutional investors own 91.09% of the company’s stock.

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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