In yesterday’s Wall Street session, Tandem Diabetes Care Inc. (NASDAQ:TNDM) shares traded at $44.95, up 4.44% from the previous session.
15 analysts cover Tandem Diabetes Care Inc. (NASDAQ:TNDM), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $80.00 and a low of $43.00, we find $60.50. Given the previous closing price of $43.04, this indicates a potential upside of 40.57 percent. TNDM stock price is now 3.09% away from the 50-day moving average and -29.59% away from the 200-day moving average. The market capitalization of the company currently stands at $2.77B.
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The stock has received a hold rating from 4 analysts and a buy rating from 8. Brokers who have rated the stock have averaged $59.93 as their price target over the next twelve months.
With the price target maintained at $43, Wells Fargo recently Upgraded its rating from Underweight to Equal Weight for Tandem Diabetes Care Inc. (NASDAQ: TNDM). On October 18, 2022, Barclays recently initiated its ‘Overweight’ rating on the stock quoting a target price of $75, while ‘Jefferies’ rates the stock as ‘Buy’.
In other news, BERGER DAVID B, EVP & Chief Operating Officer sold 10,000 shares of the company’s stock on Dec 16. The stock was sold for $402,500 at an average price of $40.25. Upon completion of the transaction, the EVP & Chief Operating Officer now directly owns 3,029 shares in the company, valued at $0.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15, EVP & Chief Operating Officer BERGER DAVID B sold 15,000 shares of the business’s stock. A total of $604,800 was realized by selling the stock at an average price of $40.32. This leaves the insider owning 3,029 shares of the company worth $0.14 million. Insiders disposed of 43,002 shares of company stock worth roughly $1.93 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TNDM stock. A new stake in Tandem Diabetes Care Inc. shares was purchased by EMINENCE CAPITAL, LP during the first quarter worth $71,506,000. EAGLE ASSET MANAGEMENT INC invested $23,409,000 in shares of TNDM during the first quarter. In the first quarter, OCTAGON CAPITAL ADVISORS LP acquired a new stake in Tandem Diabetes Care Inc. valued at approximately $21,348,000. GRANITE INVESTMENT PARTNERS, LLC acquired a new stake in TNDM for approximately $15,563,000. BALYASNY ASSET MANAGEMENT LLC purchased a new stake in TNDM valued at around $13,194,000 in the second quarter.
On Friday morning Tandem Diabetes Care Inc. (NASDAQ: TNDM) stock kicked off with the opening price of $42.50. During the past 12 months, Tandem Diabetes Care Inc. has had a low of $33.51 and a high of $153.95. As of last week, the company has a debt-to-equity ratio of 0.67, a current ratio of 4.80, and a quick ratio of 4.20. The fifty day moving average price for TNDM is $43.46 and a two-hundred day moving average price translates $63.51 for the stock.
The latest earnings results from Tandem Diabetes Care Inc. (NASDAQ: TNDM) was released for Jun, 2022. According to the Medical Devices Company, earnings per share came in at -$0.24, missing analysts’ expectations of $0.02 by -0.26. This compares to $0.09 EPS in the same period last year. The net profit margin was -8.60% and return on equity was -15.60% for TNDM. The company reported revenue of $204.55 million for the quarter, compared to $179.63 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.87 percent. For the current quarter, analysts expect TNDM to generate $208.16M in revenue.
Tandem Diabetes Care Inc.(TNDM) 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 and internationally. The company’s flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set. It also provides t:slim X2 insulin with Basal-IQ and control IQ technology; t:slim X2 with G5 Integration; and Tandem Device Updater, a tool that allows users to update their pump’s software. In addition, the company offers t:connect, a web-based data management application, which provides a visual way to display diabetes therapy management data from the pump, continuous glucose monitoring, and supported blood glucose meters for users, their caregivers, and their healthcare providers; and Sugarmate, a mobile app for people with diabetes who use insulin. It has development and commercialization agreements with Dexcom, Inc. and Abbott Laboratories. The company was formerly known as Phluid Inc. and changed its name to Tandem Diabetes Care, Inc. in January 2008. Tandem Diabetes Care, Inc. was incorporated in 2006 and is headquartered in San Diego, California.
