Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Tandem Diabetes Care (NASDAQ:TNDM) from a strong-buy rating to a buy rating in a report published on Tuesday, BidAskClub reports.

Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Tandem Diabetes Care from $58.00 to $70.00 and gave the stock a hold rating in a research report on Wednesday, May 1st. Craig Hallum reissued a buy rating and issued a $84.00 target price (up previously from $70.00) on shares of Tandem Diabetes Care in a research report on Wednesday, May 1st. ValuEngine raised shares of Tandem Diabetes Care from a buy rating to a strong-buy rating in a research report on Monday, August 12th. Leerink Swann initiated coverage on shares of Tandem Diabetes Care in a research report on Monday, May 13th. They issued an outperform rating and a $83.00 target price for the company. Finally, Svb Leerink initiated coverage on shares of Tandem Diabetes Care in a research report on Monday, May 13th. They issued an outperform rating and a $83.00 target price for the company. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $68.38.

Tandem Diabetes Care stock opened at $66.81 on Tuesday. Tandem Diabetes Care has a 12-month low of $26.40 and a 12-month high of $74.81. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -26.20 and a beta of 0.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.53 and a quick ratio of 2.21. The firm’s fifty day moving average price is $63.27 and its 200 day moving average price is $62.70.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.20. The firm had revenue of $93.26 million for the quarter, compared to the consensus estimate of $69.95 million. Tandem Diabetes Care had a negative net margin of 19.55% and a negative return on equity of 19.31%. The firm’s quarterly revenue was up 173.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) EPS. Analysts forecast that Tandem Diabetes Care will post -0.65 earnings per share for the current fiscal year.

In related news, Director Douglas A. Roeder sold 35,688 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $70.07, for a total transaction of $2,500,658.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward L. Cahill sold 1,417 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.03, for a total transaction of $89,313.51. Following the sale, the director now directly owns 5,399 shares of the company’s stock, valued at approximately $340,298.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,954 shares of company stock valued at $7,398,525. Insiders own 6.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Tandem Diabetes Care by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,227,080 shares of the medical device company’s stock valued at $401,771,000 after buying an additional 316,123 shares during the last quarter. BlackRock Inc. grew its position in shares of Tandem Diabetes Care by 2.1% during the 2nd quarter. BlackRock Inc. now owns 4,054,911 shares of the medical device company’s stock valued at $261,622,000 after buying an additional 83,336 shares during the last quarter. Eagle Asset Management Inc. grew its position in shares of Tandem Diabetes Care by 24.4% during the 1st quarter. Eagle Asset Management Inc. now owns 1,307,033 shares of the medical device company’s stock valued at $82,996,000 after buying an additional 256,595 shares during the last quarter. Carillon Tower Advisers Inc. grew its position in shares of Tandem Diabetes Care by 26.1% during the 1st quarter. Carillon Tower Advisers Inc. now owns 922,735 shares of the medical device company’s stock valued at $58,593,000 after buying an additional 190,728 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Tandem Diabetes Care by 15.9% during the 2nd quarter. Renaissance Technologies LLC now owns 897,927 shares of the medical device company’s stock valued at $57,934,000 after buying an additional 123,500 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.

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