Tandem Diabetes Care (NASDAQ:TNDM) Cut to “Buy” at ValuEngine

ValuEngine cut shares of Tandem Diabetes Care (NASDAQ:TNDM) from a strong-buy rating to a buy rating in a research note published on Monday, April 1st, ValuEngine reports.

A number of other analysts also recently issued reports on the company. BidaskClub downgraded Tandem Diabetes Care from a buy rating to a hold rating in a research note on Saturday, December 22nd. Robert W. Baird boosted their target price on Tandem Diabetes Care from $46.00 to $55.00 and gave the company an outperform rating in a research report on Friday, February 15th. Piper Jaffray Companies raised Tandem Diabetes Care to an overweight rating and set a $67.00 target price on the stock in a research report on Wednesday, February 27th. Lake Street Capital boosted their target price on Tandem Diabetes Care from $60.00 to $100.00 and gave the company a buy rating in a research report on Wednesday, February 27th. Finally, Craig Hallum boosted their target price on Tandem Diabetes Care from $59.00 to $70.00 and gave the company a buy rating in a research report on Wednesday, February 27th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $59.43.

NASDAQ TNDM traded up $1.27 during trading hours on Monday, reaching $59.85. The company’s stock had a trading volume of 1,100,774 shares, compared to its average volume of 2,000,514. Tandem Diabetes Care has a 1 year low of $6.82 and a 1 year high of $74.81. The stock has a market cap of $3.47 billion, a PE ratio of -23.47 and a beta of 0.68.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Tuesday, February 26th. The medical device company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.24. Tandem Diabetes Care had a negative return on equity of 67.92% and a negative net margin of 66.68%. The company had revenue of $76.20 million for the quarter, compared to analysts’ expectations of $56.34 million. During the same period in the previous year, the firm earned ($1.23) EPS. The firm’s revenue was up 89.1% compared to the same quarter last year. As a group, sell-side analysts predict that Tandem Diabetes Care will post -0.72 earnings per share for the current fiscal year.

In related news, EVP David B. Berger sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $62.60, for a total transaction of $125,200.00. Following the completion of the sale, the executive vice president now directly owns 3,765 shares in the company, valued at approximately $235,689. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Sheridan sold 20,000 shares of the company’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $45.26, for a total value of $905,200.00. Following the sale, the executive vice president now owns 20,666 shares of the company’s stock, valued at $935,343.16. The disclosure for this sale can be found here. Insiders sold a total of 328,300 shares of company stock valued at $21,097,499 over the last quarter. Company insiders own 9.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new position in Tandem Diabetes Care during the 4th quarter valued at about $44,000. IFP Advisors Inc increased its holdings in shares of Tandem Diabetes Care by 78.4% in the fourth quarter. IFP Advisors Inc now owns 1,757 shares of the medical device company’s stock valued at $66,000 after purchasing an additional 772 shares during the period. Advisor Group Inc. increased its holdings in shares of Tandem Diabetes Care by 38.2% in the fourth quarter. Advisor Group Inc. now owns 2,351 shares of the medical device company’s stock valued at $89,000 after purchasing an additional 650 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Tandem Diabetes Care in the first quarter valued at about $153,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Tandem Diabetes Care during the third quarter worth about $109,000. 82.60% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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