Tandem Diabetes Care Inc (TNDM) Given Consensus Rating of “Buy” by Brokerages

Tandem Diabetes Care Inc (NASDAQ:TNDM) has earned a consensus rating of “Buy” from the eighteen analysts that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $70.00.

TNDM has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 16th. ValuEngine downgraded shares of Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 28th. Piper Jaffray Companies upgraded shares of Tandem Diabetes Care to an “overweight” rating and set a $67.00 price target for the company in a report on Wednesday, February 27th. Leerink Swann initiated coverage on shares of Tandem Diabetes Care in a report on Monday, May 13th. They issued an “outperform” rating and a $83.00 price target for the company. Finally, Svb Leerink initiated coverage on shares of Tandem Diabetes Care in a report on Monday, May 13th. They issued an “outperform” rating and a $83.00 price target for the company.

Shares of TNDM opened at $66.97 on Thursday. The stock has a market capitalization of $3.92 billion, a PE ratio of -26.26 and a beta of 0.63. Tandem Diabetes Care has a 52-week low of $11.62 and a 52-week high of $74.81.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Tuesday, April 30th. The medical device company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.10). The company had revenue of $66.00 million during the quarter, compared to analysts’ expectations of $47.55 million. Tandem Diabetes Care had a negative net margin of 50.73% and a negative return on equity of 40.76%. The business’s revenue for the quarter was up 141.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.82) EPS. As a group, analysts forecast that Tandem Diabetes Care will post -0.88 earnings per share for the current fiscal year.

In other Tandem Diabetes Care news, CAO Susan Morrison sold 60,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $67.79, for a total transaction of $4,067,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 53,745 shares in the company, valued at approximately $3,643,373.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian B. Hansen sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $72.00, for a total transaction of $720,000.00. Following the transaction, the executive vice president now owns 11,381 shares of the company’s stock, valued at $819,432. The disclosure for this sale can be found here. Insiders have sold a total of 347,300 shares of company stock valued at $22,717,159 over the last 90 days. 6.90% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in shares of Tandem Diabetes Care by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 210,992 shares of the medical device company’s stock valued at $9,039,000 after buying an additional 6,313 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Tandem Diabetes Care by 178.9% in the 3rd quarter. Morgan Stanley now owns 285,192 shares of the medical device company’s stock valued at $12,217,000 after buying an additional 182,952 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tandem Diabetes Care by 98.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,792,662 shares of the medical device company’s stock valued at $162,478,000 after buying an additional 1,884,560 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Tandem Diabetes Care by 14.6% in the 3rd quarter. Legal & General Group Plc now owns 7,629 shares of the medical device company’s stock valued at $327,000 after buying an additional 971 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Tandem Diabetes Care by 0.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 98,569 shares of the medical device company’s stock valued at $4,223,000 after buying an additional 697 shares in the last quarter. Hedge funds and other institutional investors own 81.03% of the company’s stock.

Tandem Diabetes Care Company Profile

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.

Recommended Story: Penny Stocks, Risk and Reward Factors

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

Receive News & Ratings for Tandem Diabetes Care Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tandem Diabetes Care and related companies with MarketBeat.com's FREE daily email newsletter.