Tandem Diabetes Care (NASDAQ:TNDM) has been given a $59.00 price objective by analysts at Craig Hallum in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the medical device company’s stock. Craig Hallum’s price target suggests a potential upside of 47.54% from the stock’s previous close.
TNDM has been the topic of several other reports. Robert W. Baird reissued a “buy” rating and set a $31.00 target price on shares of Tandem Diabetes Care in a research note on Monday, July 23rd. Lake Street Capital increased their target price on shares of Tandem Diabetes Care from $35.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Zacks Investment Research lowered shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. BidaskClub raised shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 23rd. Finally, Berenberg Bank initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 30th. They set a “buy” rating and a $50.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.27.
NASDAQ:TNDM opened at $39.99 on Friday. Tandem Diabetes Care has a one year low of $2.14 and a one year high of $52.55. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.43 and a current ratio of 3.02. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -3.11 and a beta of 0.53.
Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, November 1st. The medical device company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.28). Tandem Diabetes Care had a negative return on equity of 2,186.28% and a negative net margin of 93.07%. The firm had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $42.71 million. During the same period in the previous year, the company earned ($3.09) earnings per share. The company’s revenue was up 71.5% compared to the same quarter last year. Sell-side analysts anticipate that Tandem Diabetes Care will post -1.41 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of TNDM. Northern Trust Corp purchased a new position in Tandem Diabetes Care in the 1st quarter valued at about $415,000. JPMorgan Chase & Co. purchased a new position in Tandem Diabetes Care in the 1st quarter valued at about $593,000. A.R.T. Advisors LLC lifted its stake in Tandem Diabetes Care by 284.4% in the 1st quarter. A.R.T. Advisors LLC now owns 38,518 shares of the medical device company’s stock valued at $191,000 after buying an additional 28,499 shares in the last quarter. Barclays PLC lifted its stake in Tandem Diabetes Care by 75.7% in the 1st quarter. Barclays PLC now owns 47,100 shares of the medical device company’s stock valued at $234,000 after buying an additional 20,300 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Tandem Diabetes Care in the 1st quarter valued at about $4,225,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.
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.
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