Tandem Diabetes Care (TNDM) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a hold rating to a buy rating in a research note released on Monday morning.

TNDM has been the topic of a number of other reports. Zacks Investment Research downgraded Tandem Diabetes Care from a buy rating to a hold rating in a report on Friday, March 23rd. Cowen reissued a hold rating on shares of Tandem Diabetes Care in a research report on Tuesday, February 27th. Oppenheimer reissued a buy rating on shares of Tandem Diabetes Care in a research report on Thursday, March 22nd. Citigroup started coverage on Tandem Diabetes Care in a research report on Tuesday, February 27th. They issued an outperform rating and a $5.50 price objective for the company. Finally, Piper Jaffray raised Tandem Diabetes Care from a neutral rating to an overweight rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $8.32.

Shares of Tandem Diabetes Care opened at $11.69 on Monday, Marketbeat Ratings reports. Tandem Diabetes Care has a 12-month low of $11.40 and a 12-month high of $11.92. The firm has a market capitalization of $558.01 million, a PE ratio of -0.91 and a beta of -0.40. The company has a current ratio of 2.62, a quick ratio of 2.01 and a debt-to-equity ratio of 6.45.

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 (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($0.13). The firm had revenue of $40.00 million during the quarter, compared to analyst estimates of $38.41 million. During the same quarter in the previous year, the company earned ($0.48) EPS. The company’s revenue for the quarter was up 61.3% on a year-over-year basis. equities research analysts forecast that Tandem Diabetes Care will post -1.47 EPS for the current year.

In other Tandem Diabetes Care news, Director Dick Allen acquired 25,539 shares of the stock in a transaction dated Tuesday, March 6th. The stock was purchased at an average price of $3.88 per share, with a total value of $99,091.32. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 9.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in Tandem Diabetes Care during the 1st quarter worth about $4,225,000. First Light Asset Management LLC acquired a new stake in Tandem Diabetes Care during the 1st quarter worth about $23,482,000. Millrace Asset Group Inc. acquired a new stake in Tandem Diabetes Care during the 1st quarter worth about $2,480,000. DAFNA Capital Management LLC acquired a new stake in Tandem Diabetes Care during the 1st quarter worth about $298,000. Finally, venBio Select Advisor LLC acquired a new stake in Tandem Diabetes Care during the 1st quarter worth about $3,888,000. 14.75% of the stock is owned by institutional investors.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc is a medical device company, which designs, develops and commercializes products for people with insulin dependent diabetes. The company was founded by Paul M. DiPerna on January 27, 2006 and is headquartered in San Diego, CA.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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