Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up on Analyst Upgrade

Shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) gapped up before the market opened on Monday after Oppenheimer raised their price target on the stock from $80.00 to $84.00. The stock had previously closed at $63.52, but opened at $65.26. Tandem Diabetes Care shares last traded at $62.61, with a volume of 33,828 shares traded.

Several other research firms also recently weighed in on TNDM. Leerink Swann began coverage on Tandem Diabetes Care in a research note on Monday, May 13th. They set an “outperform” rating and a $83.00 price target on the stock. Craig Hallum reiterated a “buy” rating and set a $84.00 price target (up previously from $70.00) on shares of Tandem Diabetes Care in a research note on Wednesday, May 1st. Svb Leerink began coverage on Tandem Diabetes Care in a research note on Monday, May 13th. They set an “outperform” rating and a $83.00 price target on the stock. UBS Group boosted their price target on Tandem Diabetes Care from $53.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Finally, Stifel Nicolaus boosted their price target on Tandem Diabetes Care from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $68.38.

In other news, Director Douglas A. Roeder sold 35,688 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $70.07, for a total value of $2,500,658.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Leigh Vosseller sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $70.45, for a total value of $704,500.00. Following the completion of the sale, the chief financial officer now owns 12,009 shares in the company, valued at approximately $846,034.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,066 shares of company stock worth $5,315,927. Company insiders own 6.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in shares of Tandem Diabetes Care by 53.3% in the second 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 last quarter. Bremer Bank National Association purchased a new stake in shares of Tandem Diabetes Care in the first quarter worth about $31,000. TRUE Private Wealth Advisors purchased a new stake in shares of Tandem Diabetes Care in the second quarter worth about $33,000. James Investment Research Inc. boosted its stake in shares of Tandem Diabetes Care by 15.9% in the second 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 last quarter. Finally, Advisor Group Inc. boosted its stake 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 worth $89,000 after buying an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

The company has a current ratio of 2.43, a quick ratio of 2.13 and a debt-to-equity ratio of 0.09. The company has a market cap of $3.64 billion, a PE ratio of -25.21 and a beta of 0.33. The firm has a 50 day moving average price of $64.11.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, August 1st. The medical device company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.20. Tandem Diabetes Care had a negative return on equity of 20.21% and a negative net margin of 19.55%. The firm had revenue of $93.26 million for the quarter, compared to the consensus estimate of $69.95 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. The company’s revenue was up 173.2% compared to the same quarter last year. As a group, equities analysts predict that Tandem Diabetes Care Inc will post -0.81 EPS for the current year.

Tandem Diabetes Care Company Profile (NASDAQ:TNDM)

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.

Featured Article: Net Margin – Understanding the Different Kinds of Profit

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.