Tandem Diabetes Care (NASDAQ:TNDM) had its price target lifted by equities researchers at Craig Hallum from $102.00 to $140.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Craig Hallum’s target price indicates a potential upside of 34.02% from the stock’s current price.
TNDM has been the topic of a number of other research reports. Guggenheim upgraded shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Friday. ValuEngine downgraded Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Oppenheimer initiated coverage on Tandem Diabetes Care in a report on Tuesday, June 30th. They issued a “buy” rating and a $102.00 target price for the company. UBS Group upped their price target on Tandem Diabetes Care from $98.00 to $106.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Citigroup upgraded Tandem Diabetes Care from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $94.00 to $120.00 in a report on Monday, July 6th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $111.62.
TNDM stock opened at $104.46 on Friday. The business has a 50 day moving average of $94.92 and a 200 day moving average of $79.49. The firm has a market cap of $6.28 billion, a PE ratio of -139.28 and a beta of 0.58. Tandem Diabetes Care has a twelve month low of $43.69 and a twelve month high of $110.80. The company has a quick ratio of 2.21, a current ratio of 2.82 and a debt-to-equity ratio of 0.09.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.21). Tandem Diabetes Care had a negative return on equity of 14.20% and a negative net margin of 10.29%. The company had revenue of $109.24 million during the quarter, compared to analysts’ expectations of $86.51 million. On average, research analysts expect that Tandem Diabetes Care will post -0.47 earnings per share for the current fiscal year.
In related news, EVP David B. Berger sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.33, for a total transaction of $156,660.00. Following the completion of the transaction, the executive vice president now directly owns 3,961 shares in the company, valued at approximately $310,265.13. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Leigh Vosseller sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $90.07, for a total transaction of $900,700.00. Following the completion of the sale, the chief financial officer now directly owns 13,265 shares of the company’s stock, valued at $1,194,778.55. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock valued at $11,058,360 in the last three months. 6.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the business. Sigma Planning Corp bought a new position in Tandem Diabetes Care in the 2nd quarter worth $327,000. Copper Rock Capital Partners LLC purchased a new position in shares of Tandem Diabetes Care in the second quarter valued at about $263,717,000. Beacon Investment Advisory Services Inc. boosted its stake in shares of Tandem Diabetes Care by 34.3% in the second quarter. Beacon Investment Advisory Services Inc. now owns 5,905 shares of the medical device company’s stock worth $584,000 after acquiring an additional 1,509 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Tandem Diabetes Care during the second quarter worth about $213,000. Finally, Raymond James & Associates raised its stake in Tandem Diabetes Care by 8.7% during the 2nd quarter. Raymond James & Associates now owns 45,023 shares of the medical device company’s stock valued at $4,454,000 after purchasing an additional 3,609 shares during the period. Institutional investors and hedge funds own 91.73% 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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