The price of Tandem Diabetes Care Inc. (NASDAQ:TNDM) shares last traded on Wall Street fell -7.65% to $32.25.
Based on available information, 18 analysts follow Tandem Diabetes Care Inc. (NASDAQ:TNDM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $71.00 and a low of $30.00, we find $50.00. Given the previous closing price of $34.92, this indicates a potential upside of 43.18 percent. TNDM stock price is now 15.71% away from the 50-day moving average and -15.76% away from the 200-day moving average. The market capitalization of the company currently stands at $2.02B.
Among analysts, 8 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $50.29 as their price target over the next twelve months.
With the price target reduced from $45 to $33, BofA Securities Downgraded its rating from Neutral to Underperform for Tandem Diabetes Care Inc. (NASDAQ: TNDM).
In other news, Allen Dick, Director bought 10,000 shares of the company’s stock on May 18. The stock was bought for $294,687 at an average price of $29.47. Upon completion of the transaction, the Director now directly owns 12,205 shares in the company, valued at $0.39 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 17, Director Howell Peyton R bought 3,000 shares of the business’s stock. A total of $90,492 was incurred on buying the stock at an average price of $30.16. This leaves the insider owning 8,550 shares of the company worth $0.28 million. Insiders disposed of 54,844 shares of company stock worth roughly $1.77 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 TRI LOCUM PARTNERS LP during the first quarter worth $13,463,000. SESSA CAPITAL IM, L.P. invested $3,929,000 in shares of TNDM during the first quarter. In the first quarter, PUBLIC SECTOR PENSION INVESTMENT BOARD acquired a new stake in Tandem Diabetes Care Inc. valued at approximately $3,647,000. BANQUE PICTET & CIE SA acquired a new stake in TNDM for approximately $3,163,000. TUDOR INVESTMENT CORP ET AL purchased a new stake in TNDM valued at around $2,263,000 in the second quarter. In total, there are 387 active investors with 104.88% ownership of the company’s stock.
A candlestick chart of Tandem Diabetes Care Inc. (NASDAQ: TNDM) showed a price of $34.50 on Tuesday morning. During the past 12 months, Tandem Diabetes Care Inc. has had a low of $23.60 and a high of $70.81. As of last week, the company has a debt-to-equity ratio of 0.84, a current ratio of 4.40, and a quick ratio of 3.70. The fifty day moving average price for TNDM is $27.92 and a two-hundred day moving average price translates $38.19 for the stock.
The latest earnings results from Tandem Diabetes Care Inc. (NASDAQ: TNDM) was released for Mar, 2023. According to the Medical Devices Company, earnings per share came in at -$1.92, missing analysts’ expectations of -$0.52 by -1.4. This compares to -$0.23 EPS in the same period last year. The net profit margin was -25.60% and return on equity was -49.40% for TNDM. The company reported revenue of $169.38 million for the quarter, compared to $175.91 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.71 percent. For the current quarter, analysts expect TNDM to generate $197.64M 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.
