Tandem Diabetes Care (NASDAQ:TNDM) PT Raised to $84.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price lifted by equities research analysts at Oppenheimer from $80.00 to $84.00 in a research note issued to investors on Friday, The Fly reports. Oppenheimer’s price target would indicate a potential upside of 28.48% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Leerink Swann initiated coverage on Tandem Diabetes Care in a report on Monday, May 13th. They set an “outperform” rating and a $83.00 price target for the company. ValuEngine lowered Tandem Diabetes Care from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. Lake Street Capital reiterated a “buy” rating on shares of Tandem Diabetes Care in a report on Monday, June 17th. Svb Leerink initiated coverage on Tandem Diabetes Care in a report on Monday, May 13th. They set an “outperform” rating and a $83.00 price target for the company. Finally, BidaskClub upgraded Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $68.38.

NASDAQ TNDM traded up $5.15 during trading on Friday, reaching $65.38. 178,496 shares of the company’s stock were exchanged, compared to its average volume of 947,610. Tandem Diabetes Care has a fifty-two week low of $26.40 and a fifty-two week high of $74.81. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -25.64 and a beta of 0.41. The company has a quick ratio of 2.13, a current ratio of 2.43 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average price of $64.21.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.20. The business had revenue of $93.26 million during the quarter, compared to analyst estimates of $69.95 million. Tandem Diabetes Care had a negative return on equity of 40.76% and a negative net margin of 50.73%. The firm’s revenue was up 173.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.33) EPS. As a group, sell-side analysts expect that Tandem Diabetes Care will post -0.81 earnings per share for the current fiscal year.

In related news, CFO Leigh Vosseller sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $70.45, for a total value of $704,500.00. Following the transaction, the chief financial officer now directly owns 12,009 shares of the company’s stock, valued at approximately $846,034.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas A. Roeder sold 35,688 shares of Tandem Diabetes Care stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $70.07, for a total value of $2,500,658.16. The disclosure for this sale can be found here. Insiders sold a total of 76,066 shares of company stock worth $5,315,927 over the last three months. 6.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position in Tandem Diabetes Care by 53.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 460 shares of the medical device company’s stock worth $30,000 after buying an additional 160 shares during the period. James Investment Research Inc. increased its position in Tandem Diabetes Care by 15.9% in the 2nd quarter. James Investment Research Inc. now owns 1,315 shares of the medical device company’s stock worth $85,000 after buying an additional 180 shares during the period. TD Asset Management Inc. increased its position in Tandem Diabetes Care by 1.9% in the 2nd quarter. TD Asset Management Inc. now owns 10,900 shares of the medical device company’s stock worth $703,000 after buying an additional 200 shares during the period. Rhumbline Advisers increased its position in Tandem Diabetes Care by 0.3% in the 1st quarter. Rhumbline Advisers now owns 68,183 shares of the medical device company’s stock worth $4,330,000 after buying an additional 202 shares during the period. Finally, Meeder Asset Management Inc. increased its position in Tandem Diabetes Care by 11.3% in the 1st quarter. Meeder Asset Management Inc. now owns 4,475 shares of the medical device company’s stock worth $284,000 after buying an additional 456 shares during the period. 80.85% 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.

See Also: Call Option Volume

The Fly

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.