Tandem Diabetes Care (TNDM) Lowered to “Buy” at BidaskClub

BidaskClub downgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a strong-buy rating to a buy rating in a research note published on Tuesday, BidAskClub reports.

A number of other brokerages have also recently commented on TNDM. Bank of America increased their price objective on shares of Tandem Diabetes Care from $59.00 to $65.00 and gave the company a neutral rating in a research note on Tuesday, March 5th. ValuEngine cut shares of Tandem Diabetes Care from a strong-buy rating to a buy rating in a research note on Thursday, February 28th. Oppenheimer increased their price objective on shares of Tandem Diabetes Care from $57.00 to $68.00 and gave the company an outperform rating in a research note on Wednesday, February 27th. Cowen increased their price objective on shares of Tandem Diabetes Care from $40.00 to $60.00 and gave the company an outperform rating in a research note on Wednesday, February 27th. Finally, Craig Hallum increased their price objective on shares of Tandem Diabetes Care from $59.00 to $70.00 and gave the company a buy rating in a research note on Wednesday, February 27th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $59.43.

Shares of NASDAQ TNDM opened at $61.40 on Tuesday. The stock has a market capitalization of $3.64 billion, a P/E ratio of -24.08 and a beta of 0.68. Tandem Diabetes Care has a 52 week low of $6.76 and a 52 week high of $74.81.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Tuesday, February 26th. The medical device company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.24. The firm had revenue of $76.20 million for the quarter, compared to analysts’ expectations of $56.34 million. Tandem Diabetes Care had a negative net margin of 66.68% and a negative return on equity of 67.92%. The firm’s revenue was up 89.1% on a year-over-year basis. During the same period in the prior year, the company earned ($1.23) EPS. Equities analysts anticipate that Tandem Diabetes Care will post -0.72 earnings per share for the current year.

In other Tandem Diabetes Care news, EVP Brian B. Hansen sold 10,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $72.00, for a total value of $720,000.00. Following the transaction, the executive vice president now directly owns 11,381 shares in the company, valued at approximately $819,432. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David B. Berger sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $62.60, for a total transaction of $125,200.00. Following the completion of the transaction, the executive vice president now owns 3,765 shares in the company, valued at $235,689. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 328,300 shares of company stock worth $21,097,499. 9.30% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Tandem Diabetes Care by 7.5% in the 4th quarter. BlackRock Inc. now owns 4,201,695 shares of the medical device company’s stock valued at $159,538,000 after purchasing an additional 292,389 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 98.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,792,662 shares of the medical device company’s stock worth $162,478,000 after acquiring an additional 1,884,560 shares during the period. Vanguard Group Inc lifted its holdings in shares of Tandem Diabetes Care by 98.8% during the 3rd quarter. Vanguard Group Inc now owns 3,792,662 shares of the medical device company’s stock worth $162,478,000 after acquiring an additional 1,884,560 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Tandem Diabetes Care by 25.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,810,966 shares of the medical device company’s stock worth $68,762,000 after acquiring an additional 365,261 shares during the period. Finally, Ardevora Asset Management LLP lifted its holdings in shares of Tandem Diabetes Care by 27.4% during the 4th quarter. Ardevora Asset Management LLP now owns 1,099,836 shares of the medical device company’s stock worth $41,761,000 after acquiring an additional 236,440 shares during the period. Institutional investors own 82.60% of the company’s stock.

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.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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