Tandem Diabetes Care (NASDAQ:TNDM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a sell rating to a hold rating in a research note published on Saturday morning.

TNDM has been the topic of a number of other reports. Wells Fargo & Company decreased their price target on Tandem Diabetes Care from $20.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Barclays reduced their price objective on Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Finally, Truist Financial set a $16.00 price objective on shares of Tandem Diabetes Care and gave the company a “hold” rating in a research report on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.19.

Tandem Diabetes Care Stock Up 5.1%

TNDM opened at $15.54 on Friday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -5.03 and a beta of 1.48. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. The firm’s 50-day simple moving average is $12.73 and its 200-day simple moving average is $16.41. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $38.28.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, August 6th. The medical device company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). The firm had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. Tandem Diabetes Care’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) earnings per share. Equities research analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Activity

In other Tandem Diabetes Care news, CFO Leigh Vosseller purchased 13,720 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $10.89 per share, with a total value of $149,410.80. Following the completion of the purchase, the chief financial officer directly owned 25,580 shares in the company, valued at approximately $278,566.20. This represents a 115.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John F. Sheridan acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the completion of the acquisition, the chief executive officer directly owned 106,327 shares of the company’s stock, valued at $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sessa Capital IM L.P. bought a new stake in Tandem Diabetes Care in the first quarter valued at about $85,574,000. GW&K Investment Management LLC grew its position in shares of Tandem Diabetes Care by 34.9% during the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock worth $54,874,000 after buying an additional 740,499 shares during the period. Hood River Capital Management LLC grew its position in shares of Tandem Diabetes Care by 10.9% during the 2nd quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock worth $47,811,000 after buying an additional 252,934 shares during the period. Paradice Investment Management LLC increased its stake in shares of Tandem Diabetes Care by 24.3% in the 3rd quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock valued at $26,665,000 after acquiring an additional 429,289 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its position in shares of Tandem Diabetes Care by 1.8% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,737,769 shares of the medical device company’s stock valued at $32,392,000 after acquiring an additional 30,854 shares during the period.

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.