Tandem Diabetes Care (TNDM) Rating Increased to Hold at ValuEngine

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Cowen raised Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 28th. Stifel Nicolaus reissued a “hold” rating and set a $4.00 price objective on shares of Tandem Diabetes Care in a research note on Friday, March 2nd. Oppenheimer set a $8.00 price objective on Tandem Diabetes Care and gave the company a “buy” rating in a research note on Friday. Finally, Robert W. Baird raised Tandem Diabetes Care from a “neutral” rating to an “outperform” rating in a research note on Friday, March 23rd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.81.

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Shares of NASDAQ TNDM opened at $5.75 on Friday. The firm has a market capitalization of $257.02, a PE ratio of -0.45 and a beta of -0.32. Tandem Diabetes Care has a fifty-two week low of $2.14 and a fifty-two week high of $12.20. The company has a debt-to-equity ratio of -2.63, a current ratio of 1.78 and a quick ratio of 1.03.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, March 1st. The medical device company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.10) by ($0.13). The firm had revenue of $40.00 million during the quarter, compared to the consensus estimate of $38.41 million. The business’s quarterly revenue was up 61.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.48) EPS. equities research analysts predict that Tandem Diabetes Care will post -1.43 earnings per share for the current year.

In other news, Director Christopher J. Twomey purchased 75,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $2.00 per share, with a total value of $150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kim D. Blickenstaff purchased 750,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $2.00 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 850,539 shares of company stock valued at $1,749,091. Corporate insiders own 20.90% of the company’s stock.

A hedge fund recently raised its stake in Tandem Diabetes Care stock. Vanguard Group Inc. lifted its stake in Tandem Diabetes Care (NASDAQ:TNDM) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,233,607 shares of the medical device company’s stock after buying an additional 32,991 shares during the period. Vanguard Group Inc. owned approximately 2.46% of Tandem Diabetes Care worth $987,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.74% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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