Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Rating of “Moderate Buy” from Brokerages

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received an average recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $43.88.

A number of research analysts have weighed in on the stock. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $22.00 price objective (down previously from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Finally, Barclays decreased their price objective 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.

Insider Buying and Selling

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was 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 in the company, valued at $190,948.56. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC increased its holdings 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 buying an additional 541 shares during the last quarter. NBC Securities Inc. purchased a new position in Tandem Diabetes Care in the first quarter worth $37,000. Jones Financial Companies Lllp increased its stake in 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 valued at $41,000 after acquiring an additional 748 shares during the last quarter. Assetmark Inc. raised its position in Tandem Diabetes Care by 77.5% during the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after purchasing an additional 535 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new stake in Tandem Diabetes Care during the third quarter worth about $52,000.

Tandem Diabetes Care Trading Down 2.3 %

NASDAQ TNDM opened at $16.86 on Friday. The business’s fifty day moving average is $22.10 and its 200-day moving average is $30.28. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -8.74 and a beta of 1.52. Tandem Diabetes Care has a one year low of $15.75 and a one year high of $53.69.

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.