Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Price Target at $29.34

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have received a consensus recommendation of “Hold” from the twenty-three analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $29.3421.

Several research firms have recently issued reports on TNDM. Citigroup reaffirmed a “neutral” rating and set a $21.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Royal Bank Of Canada restated an “outperform” rating and set a $26.00 target price (down from $30.00) on shares of Tandem Diabetes Care in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Tuesday, September 8th. William Blair assumed coverage on shares of Tandem Diabetes Care in a research note on Friday, August 21st. They issued an “outperform” rating on the stock. Finally, Zacks Research cut shares of Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th.

Hedge Funds Weigh In On Tandem Diabetes Care

Several large investors have recently bought and sold shares of TNDM. First Light Asset Management LLC raised its position in Tandem Diabetes Care by 20.7% in the 1st quarter. First Light Asset Management LLC now owns 1,314,715 shares of the medical device company’s stock valued at $25,203,000 after purchasing an additional 225,222 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Tandem Diabetes Care during the 2nd quarter worth $3,280,000. Arrowstreet Capital Limited Partnership grew its position in Tandem Diabetes Care by 42.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 193,556 shares of the medical device company’s stock worth $3,710,000 after purchasing an additional 57,803 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Tandem Diabetes Care in the first quarter valued at $1,116,000. Finally, WINTON GROUP Ltd acquired a new position in Tandem Diabetes Care in the fourth quarter valued at $972,000.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $17.50 on Friday. The firm’s 50 day moving average price is $19.69 and its 200-day moving average price is $18.73. The company has a debt-to-equity ratio of 4.62, a quick ratio of 2.65 and a current ratio of 3.18. Tandem Diabetes Care has a one year low of $11.46 and a one year high of $29.65. The firm has a market cap of $1.22 billion, a P/E ratio of -18.82 and a beta of 1.55.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.The business had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. During the same quarter in the prior year, the company earned ($0.78) earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Tandem Diabetes Care will post -0.65 EPS for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical technology company that develops and commercializes insulin-delivery systems for people with diabetes. Headquartered in San Diego, California, the company focuses on combining wearable insulin pumps, continuous glucose monitoring connectivity and automated insulin-delivery software to help users manage their blood glucose levels.

Its product portfolio includes the t:slim X2 insulin pump, a touchscreen pump designed for integration with compatible continuous glucose monitors, and the smaller, wearable t:slim Mobi pump.