Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $43.88 Average PT from Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $43.88.

TNDM has been the topic of a number of recent analyst reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $22.00 price target (down from $38.00) on shares of Tandem Diabetes Care in a report on Monday, March 3rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $63.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Robert W. Baird reduced their price target on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Finally, Royal Bank of Canada dropped their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $17.06 on Friday. Tandem Diabetes Care has a 52-week low of $15.75 and a 52-week high of $53.69. The stock’s 50-day simple moving average is $23.62 and its 200 day simple moving average is $30.82. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -8.84 and a beta of 1.52.

Insiders Place Their Bets

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the transaction, the chief operating officer now directly owns 10,538 shares in the company, valued at approximately $190,948.56. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC increased its stake in 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. NBC Securities Inc. bought a new position in shares of Tandem Diabetes Care in the first quarter worth approximately $37,000. Jones Financial Companies Lllp increased its stake in shares of Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after buying an additional 748 shares during the period. Assetmark Inc. raised its holdings in Tandem Diabetes Care by 77.5% during the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after buying an additional 535 shares during the last quarter. Finally, McIlrath & Eck LLC purchased a new stake in Tandem Diabetes Care during the 3rd quarter valued at $52,000.

About Tandem Diabetes Care

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.