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

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have received a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $45.38.

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $63.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Morgan Stanley cut Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $45.00 to $22.00 in a report on Wednesday, March 5th. Barclays cut 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. Sanford C. Bernstein cut Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their price target for the company from $35.00 to $25.00 in a report on Friday, February 28th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd.

Insider Activity at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos purchased 10,538 shares of the business’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the purchase, the chief operating officer now owns 10,538 shares in the company, valued at $190,948.56. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System lifted its stake in Tandem Diabetes Care by 1.9% in the fourth quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock valued at $683,000 after buying an additional 362 shares in the last quarter. Bank of Montreal Can lifted its stake in Tandem Diabetes Care by 4.3% in the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock valued at $360,000 after buying an additional 409 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Tandem Diabetes Care by 8.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock valued at $247,000 after buying an additional 525 shares in the last quarter. Assetmark Inc. lifted its stake in Tandem Diabetes Care by 77.5% in the fourth 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 in the last quarter. Finally, AlphaQuest LLC lifted its stake in Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after buying an additional 541 shares in the last quarter.

Tandem Diabetes Care Stock Down 1.7 %

TNDM opened at $20.29 on Monday. Tandem Diabetes Care has a fifty-two week low of $17.64 and a fifty-two week high of $53.69. 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 firm’s fifty day moving average price is $29.70 and its two-hundred day moving average price is $33.75. The company has a market capitalization of $1.35 billion, a P/E ratio of -10.51 and a beta of 1.45.

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.