Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Price Target at $29.22

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $29.2222.

Several equities analysts have weighed in on the company. Truist Financial raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and lifted their target price for the company from $27.00 to $35.00 in a research note on Thursday, March 19th. Stifel Nicolaus boosted their price target on Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, February 20th. Bank of America raised Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $15.00 to $30.00 in a research note on Friday, February 20th. Barclays reissued an “overweight” rating and issued a $56.00 price target on shares of Tandem Diabetes Care in a research note on Monday, February 23rd. Finally, Mizuho set a $22.00 price target on Tandem Diabetes Care and gave the company a “neutral” rating in a research note on Friday, February 20th.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $20.68 on Tuesday. The stock’s 50-day moving average price is $21.75 and its two-hundred day moving average price is $20.01. The company has a current ratio of 2.55, a quick ratio of 2.02 and a debt-to-equity ratio of 2.00. The company has a market cap of $1.42 billion, a PE ratio of -6.74 and a beta of 1.74. Tandem Diabetes Care has a 1 year low of $9.98 and a 1 year high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. The firm had revenue of $290.38 million for the quarter, compared to the consensus estimate of $277.14 million. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. On average, analysts predict that Tandem Diabetes Care will post -0.93 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its position in Tandem Diabetes Care by 80.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after purchasing an additional 593 shares during the period. OP Asset Management Ltd bought a new stake in Tandem Diabetes Care during the first quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd boosted its position in Tandem Diabetes Care by 200.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares during the period. Van ECK Associates Corp boosted its position in Tandem Diabetes Care by 67.4% during the fourth quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock worth $75,000 after purchasing an additional 1,381 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its position in Tandem Diabetes Care by 36.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after purchasing an additional 909 shares during the period.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.