Tandem Diabetes Care Inc (NASDAQ:TNDM) Receives $74.58 Consensus Target Price from Brokerages

Tandem Diabetes Care Inc (NASDAQ:TNDM) has received an average rating of “Buy” from the fifteen ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $74.58.

A number of research analysts recently commented on the company. UBS Group raised Tandem Diabetes Care from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, October 4th. Guggenheim started coverage on Tandem Diabetes Care in a research note on Thursday, October 17th. They set a “buy” rating and a $76.00 price objective on the stock. BidaskClub cut Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. ValuEngine raised Tandem Diabetes Care from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Robert W. Baird reduced their price objective on Tandem Diabetes Care from $81.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th.

TNDM traded up $3.62 during trading on Thursday, reaching $66.74. The stock had a trading volume of 1,511,300 shares, compared to its average volume of 1,627,829. The stock has a market cap of $3.80 billion, a PE ratio of -26.17 and a beta of 0.16. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.05 and a current ratio of 2.46. Tandem Diabetes Care has a one year low of $26.40 and a one year high of $74.81. The business has a 50-day moving average of $60.44 and a 200-day moving average of $63.88.

In other news, CEO John F. Sheridan sold 9,538 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $70.03, for a total transaction of $667,946.14. Following the transaction, the chief executive officer now directly owns 12,039 shares of the company’s stock, valued at $843,091.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Leigh Vosseller sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $65.41, for a total value of $654,100.00. Following the transaction, the chief financial officer now directly owns 13,265 shares in the company, valued at $867,663.65. The disclosure for this sale can be found here. Insiders have sold 451,804 shares of company stock worth $31,659,471 over the last ninety days. Insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TimesSquare Capital Management LLC grew its stake in shares of Tandem Diabetes Care by 9.0% in the third quarter. TimesSquare Capital Management LLC now owns 1,239,535 shares of the medical device company’s stock worth $73,108,000 after purchasing an additional 102,758 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Tandem Diabetes Care in the third quarter worth about $163,000. SG Americas Securities LLC grew its stake in shares of Tandem Diabetes Care by 507.4% in the third quarter. SG Americas Securities LLC now owns 14,353 shares of the medical device company’s stock worth $847,000 after purchasing an additional 11,990 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Tandem Diabetes Care by 19.0% in the third quarter. First Trust Advisors LP now owns 52,412 shares of the medical device company’s stock worth $3,091,000 after purchasing an additional 8,362 shares during the last quarter. Finally, Tocqueville Asset Management L.P. grew its stake in shares of Tandem Diabetes Care by 103.7% in the third quarter. Tocqueville Asset Management L.P. now owns 8,250 shares of the medical device company’s stock worth $487,000 after purchasing an additional 4,200 shares during the last quarter. 80.73% 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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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