Tandem Diabetes Care (NASDAQ:TNDM) Given “Buy” Rating at Piper Sandler

Piper Sandler reiterated their buy rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note issued to investors on Tuesday, TipRanks reports. They currently have a $90.00 price objective on the medical device company’s stock.

A number of other brokerages have also commented on TNDM. ValuEngine lowered Tandem Diabetes Care from a buy rating to a hold rating in a report on Friday, May 1st. Lake Street Capital boosted their price objective on Tandem Diabetes Care from $100.00 to $125.00 in a report on Thursday, June 18th. Craig Hallum reduced their target price on Tandem Diabetes Care from $108.00 to $102.00 and set a buy rating for the company in a report on Monday, April 20th. Stifel Nicolaus upped their target price on Tandem Diabetes Care from $65.00 to $75.00 and gave the company a hold rating in a report on Friday, May 1st. Finally, UBS Group upped their target price on Tandem Diabetes Care from $98.00 to $106.00 and gave the company a buy rating in a report on Monday, June 22nd. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Tandem Diabetes Care presently has a consensus rating of Hold and an average target price of $93.31.

Shares of Tandem Diabetes Care stock opened at $87.81 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.82 and a quick ratio of 2.21. The business has a 50-day simple moving average of $84.63 and a 200 day simple moving average of $73.34. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of -266.08 and a beta of 0.59. Tandem Diabetes Care has a one year low of $43.69 and a one year high of $99.33.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, April 30th. The medical device company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The company had revenue of $97.90 million for the quarter, compared to the consensus estimate of $84.49 million. Tandem Diabetes Care had a negative return on equity of 9.39% and a negative net margin of 4.22%. The business’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.40) earnings per share. On average, sell-side analysts expect that Tandem Diabetes Care will post -0.49 EPS for the current year.

In related news, EVP David B. Berger sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.33, for a total value of $156,660.00. Following the transaction, the executive vice president now owns 3,961 shares in the company, valued at $310,265.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher J. Twomey sold 4,308 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $80.00, for a total value of $344,640.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,808 shares of company stock worth $1,848,680. 6.00% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in shares of Tandem Diabetes Care by 122.9% during the first quarter. Wellington Management Group LLP now owns 6,788,022 shares of the medical device company’s stock worth $436,807,000 after acquiring an additional 3,742,625 shares in the last quarter. BlackRock Inc. lifted its position in shares of Tandem Diabetes Care by 2.9% during the first quarter. BlackRock Inc. now owns 4,404,313 shares of the medical device company’s stock worth $283,418,000 after acquiring an additional 125,008 shares in the last quarter. Invesco Ltd. lifted its position in shares of Tandem Diabetes Care by 110.6% during the first quarter. Invesco Ltd. now owns 1,663,692 shares of the medical device company’s stock worth $107,059,000 after acquiring an additional 873,780 shares in the last quarter. Brown Capital Management LLC lifted its position in shares of Tandem Diabetes Care by 21.9% during the first quarter. Brown Capital Management LLC now owns 1,109,383 shares of the medical device company’s stock worth $71,389,000 after acquiring an additional 199,391 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Tandem Diabetes Care by 0.9% during the first quarter. Geode Capital Management LLC now owns 887,660 shares of the medical device company’s stock worth $57,120,000 after acquiring an additional 8,173 shares in the last quarter. Institutional investors and hedge funds own 93.44% 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.

Further Reading: Margin

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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