Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Average Recommendation of “Hold” by Brokerages

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given a consensus recommendation of “Hold” by the sixteen research firms that are currently covering the firm, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $22.4375.

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reduced their target price on Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Lake Street Capital downgraded Tandem Diabetes Care from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $12.00 in a report on Monday, August 11th. UBS Group reduced their target price on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Barclays reduced their target price on Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Finally, Wall Street Zen cut Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st.

Tandem Diabetes Care Trading Up 5.6%

Shares of TNDM stock opened at $13.11 on Friday. The stock’s fifty day moving average price is $12.69 and its two-hundred day moving average price is $16.84. The company has a market cap of $885.83 million, a PE ratio of -4.24 and a beta of 1.48. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $42.70. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). The business 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%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) EPS. Equities analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Assetmark Inc. lifted its stake in shares of Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 525 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Tandem Diabetes Care during the first quarter worth about $37,000. CWM LLC raised its position in shares of Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after acquiring an additional 2,025 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Tandem Diabetes Care by 417.8% in the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock worth $65,000 after acquiring an additional 2,741 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Tandem Diabetes Care by 186.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock valued at $78,000 after acquiring an additional 2,717 shares during the last quarter.

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.