Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $45.38 Consensus Price Target from Brokerages

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has earned an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $45.38.

A number of research firms have recently commented on TNDM. Citigroup cut Tandem Diabetes Care from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $35.00 to $24.00 in a report on Tuesday, March 4th. Barclays lowered their price target on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Morgan Stanley cut Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $45.00 to $22.00 in a report on Wednesday, March 5th. Wells Fargo & Company reissued an “equal weight” rating and set a $22.00 price target (down previously from $38.00) on shares of Tandem Diabetes Care in a report on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price target on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, March 3rd.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $20.62 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care has a fifty-two week low of $17.64 and a fifty-two week high of $53.69. The stock has a market capitalization of $1.37 billion, a PE ratio of -10.68 and a beta of 1.45. The business has a fifty day moving average price of $30.35 and a two-hundred day moving average price of $34.11.

Insider Buying and Selling

In other news, COO Jean-Claude Kyrillos purchased 10,538 shares of the company’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 transaction, the chief operating officer now owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $28,000. Assetmark Inc. acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $29,000. AlphaQuest LLC lifted its position in shares of Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after purchasing an additional 541 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after purchasing an additional 748 shares during the period. Finally, McIlrath & Eck LLC acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $52,000.

Tandem Diabetes Care Company Profile

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.