Tandem Diabetes Care (NASDAQ:TNDM) had its target price raised by research analysts at Lake Street Capital from $35.00 to $65.00 in a report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the medical device company’s stock. Lake Street Capital’s price objective suggests a potential upside of 80.91% from the company’s current price.
Several other research analysts have also recently issued reports on TNDM. ValuEngine cut Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. Zacks Investment Research cut Tandem Diabetes Care from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. Piper Jaffray Companies upgraded Tandem Diabetes Care from a “neutral” rating to an “overweight” rating in a research report on Monday, May 14th. Oppenheimer set a $15.00 price target on Tandem Diabetes Care and gave the company a “buy” rating in a research report on Monday, May 21st. Finally, MED lifted their price target on Tandem Diabetes Care from $15.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday, June 18th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tandem Diabetes Care has a consensus rating of “Buy” and a consensus target price of $27.13.
Shares of NASDAQ:TNDM opened at $35.93 on Monday. Tandem Diabetes Care has a 52-week low of $2.14 and a 52-week high of $36.92. The stock has a market capitalization of $1.80 billion, a PE ratio of -2.84 and a beta of 0.02. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.02 and a quick ratio of 2.43.
Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Monday, July 30th. The medical device company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.82). The firm had revenue of $34.10 million during the quarter, compared to analysts’ expectations of $29.68 million. During the same period last year, the firm posted ($0.44) EPS. The firm’s revenue was up 60.1% on a year-over-year basis. equities analysts predict that Tandem Diabetes Care will post -1.48 earnings per share for the current fiscal year.
In related news, Director Richard P. Valencia purchased 1,754 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, August 3rd. The stock was bought at an average cost of $28.50 per share, for a total transaction of $49,989.00. Following the completion of the transaction, the director now owns 1,754 shares in the company, valued at $49,989. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.30% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new stake in Tandem Diabetes Care in the second quarter valued at approximately $147,000. California Public Employees Retirement System acquired a new stake in Tandem Diabetes Care in the second quarter valued at approximately $249,000. State Board of Administration of Florida Retirement System acquired a new stake in Tandem Diabetes Care in the second quarter valued at approximately $300,000. First Manhattan Co. acquired a new stake in Tandem Diabetes Care in the second quarter valued at approximately $336,000. Finally, Voya Investment Management LLC acquired a new stake in Tandem Diabetes Care in the second quarter valued at approximately $386,000. 59.48% of the stock is currently owned by 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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