Tandem Diabetes Care (NASDAQ:TNDM) had its price target upped by stock analysts at Craig Hallum from $92.00 to $108.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Craig Hallum’s target price points to a potential upside of 41.12% from the company’s previous close.
A number of other brokerages also recently commented on TNDM. BidaskClub raised Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus increased their price target on Tandem Diabetes Care from $70.00 to $77.00 and gave the company a “hold” rating in a research report on Tuesday. Raymond James increased their price target on Tandem Diabetes Care from $85.00 to $91.00 and gave the company an “outperform” rating in a research report on Tuesday. Robert W. Baird downgraded Tandem Diabetes Care from an “outperform” rating to a “neutral” rating and increased their price target for the company from $71.00 to $75.00 in a research report on Tuesday, February 4th. Finally, 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 report on Tuesday. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $83.60.
TNDM stock opened at $76.53 on Tuesday. Tandem Diabetes Care has a twelve month low of $51.37 and a twelve month high of $91.65. The company has a quick ratio of 2.05, a current ratio of 2.78 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $75.50 and its 200-day moving average is $65.85. The firm has a market capitalization of $4.66 billion, a PE ratio of -159.43 and a beta of 0.08.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Monday, February 24th. The medical device company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.07. Tandem Diabetes Care had a negative return on equity of 8.99% and a negative net margin of 6.83%. The company had revenue of $108.40 million for the quarter, compared to analyst estimates of $109.22 million. During the same quarter last year, the company earned $0.02 earnings per share. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. On average, equities research analysts anticipate that Tandem Diabetes Care will post 0.04 earnings per share for the current fiscal year.
In other news, EVP Brian B. Hansen sold 20,945 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $77.62, for a total value of $1,625,750.90. Following the completion of the transaction, the executive vice president now directly owns 7,046 shares of the company’s stock, valued at $546,910.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kim D. Blickenstaff sold 50,000 shares of Tandem Diabetes Care stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $75.92, for a total value of $3,796,000.00. The disclosure for this sale can be found here. Insiders sold 299,316 shares of company stock valued at $19,481,161 over the last ninety days. Corporate insiders own 6.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Bridge City Capital LLC bought a new stake in Tandem Diabetes Care during the fourth quarter valued at $1,697,000. Metropolitan Life Insurance Co NY boosted its stake in Tandem Diabetes Care by 9.2% during 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 bought a new stake in Tandem Diabetes Care during the fourth quarter valued at $443,000. California State Teachers Retirement System boosted its stake in Tandem Diabetes Care by 2.2% during 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 boosted its stake in Tandem Diabetes Care by 39.0% during 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. 91.09% of the stock is owned by 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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