Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $45.38.

Several research firms have recently weighed in on TNDM. Barclays lowered their price objective on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Citigroup lowered Tandem Diabetes Care from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Sanford C. Bernstein lowered Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. The Goldman Sachs Group decreased their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Royal Bank of Canada decreased their target price on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th.

Tandem Diabetes Care Stock Performance

TNDM stock opened at $20.29 on Monday. The stock has a 50-day moving average price of $29.70 and a 200-day moving average price of $33.86. Tandem Diabetes Care has a 1-year low of $17.64 and a 1-year high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The firm has a market cap of $1.35 billion, a PE ratio of -10.51 and a beta of 1.45.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the purchase, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently modified their holdings of TNDM. Hood River Capital Management LLC purchased a new position in shares of Tandem Diabetes Care in the 4th quarter worth approximately $46,035,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock worth $59,830,000 after purchasing an additional 1,086,337 shares during the period. Brown Advisory Inc. bought a new stake in shares of Tandem Diabetes Care in the 4th quarter worth approximately $32,889,000. Park West Asset Management LLC raised its holdings in shares of Tandem Diabetes Care by 49.5% in the 4th quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company’s stock worth $57,632,000 after purchasing an additional 530,000 shares during the period. Finally, Baillie Gifford & Co. raised its holdings in shares of Tandem Diabetes Care by 235.7% in the 4th quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock worth $26,875,000 after purchasing an additional 523,843 shares during the period.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.