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Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Average Recommendation of “Buy” by Analys

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been given an average rating of “Buy” by the ten research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $127.56.

TNDM has been the subject of several analyst reports. Craig Hallum upped their price target on shares of Tandem Diabetes Care from $140.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Raymond James increased their target price on shares of Tandem Diabetes Care from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Wells Fargo & Company increased their target price on shares of Tandem Diabetes Care from $112.00 to $121.00 and gave the stock an “equal weight” rating in a report on Thursday, August 5th. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a report on Thursday, August 19th. Finally, Barclays initiated coverage on shares of Tandem Diabetes Care in a report on Monday, May 24th. They set an “underweight” rating and a $90.00 target price for the company.

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NASDAQ TNDM opened at $112.51 on Wednesday. The company’s 50-day simple moving average is $101.93. The company has a current ratio of 6.42, a quick ratio of 5.81 and a debt-to-equity ratio of 0.81. Tandem Diabetes Care has a 12-month low of $76.19 and a 12-month high of $123.74. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 2,250.65 and a beta of 0.27.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, August 4th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.14. Tandem Diabetes Care had a net margin of 1.08% and a return on equity of 3.68%. The business had revenue of $172.14 million during the quarter, compared to analyst estimates of $143.36 million. During the same period in the prior year, the business posted ($0.45) earnings per share. The company’s revenue was up 57.6% on a year-over-year basis. Equities analysts expect that Tandem Diabetes Care will post 0.29 earnings per share for the current year.

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 13,990 shares of the firm’s stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $105.50, for a total transaction of $1,475,945.00. Following the completion of the transaction, the director now owns 1,892 shares of the company’s stock, valued at $199,606. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kim D. Blickenstaff sold 3,210 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $107.21, for a total transaction of $344,144.10. Following the transaction, the director now directly owns 1,892 shares of the company’s stock, valued at approximately $202,841.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,620 shares of company stock valued at $4,063,138. 4.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Tandem Diabetes Care by 2.6% during the second quarter. Vanguard Group Inc. now owns 5,604,505 shares of the medical device company’s stock valued at $545,879,000 after purchasing an additional 144,143 shares in the last quarter. Jackson Square Partners LLC increased its position in shares of Tandem Diabetes Care by 16.3% during the first quarter. Jackson Square Partners LLC now owns 3,705,812 shares of the medical device company’s stock valued at $327,037,000 after acquiring an additional 518,825 shares in the last quarter. BlackRock Inc. increased its position in shares of Tandem Diabetes Care by 1.0% during the second quarter. BlackRock Inc. now owns 3,522,962 shares of the medical device company’s stock valued at $343,136,000 after acquiring an additional 33,741 shares in the last quarter. Credit Suisse AG increased its position in shares of Tandem Diabetes Care by 44.2% during the first quarter. Credit Suisse AG now owns 2,027,597 shares of the medical device company’s stock valued at $178,935,000 after acquiring an additional 621,872 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its position in shares of Tandem Diabetes Care by 15.2% during the second quarter. Champlain Investment Partners LLC now owns 1,546,570 shares of the medical device company’s stock valued at $150,636,000 after acquiring an additional 204,410 shares in the last quarter. 81.28% of the stock is owned by institutional investors and hedge funds.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc engages in the design, development, and commercialization of products for people with insulin-dependent diabetes. Its flagship product, t:slim X2 Insulin Delivery System, operates as a small insulin pump. The company was founded by Paul M. DiPerna on January 27, 2006 and is headquartered in San Diego, CA.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)