Tandem Diabetes Care (NASDAQ:TNDM) Given New $90.00 Price Target at Raymond James

Tandem Diabetes Care (NASDAQ:TNDMGet Rating) had its price target decreased by equities researchers at Raymond James from $125.00 to $90.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Raymond James’ price objective would suggest a potential upside of 51.16% from the company’s previous close.

A number of other research analysts also recently issued reports on TNDM. SVB Leerink reissued a “market perform” rating on shares of Tandem Diabetes Care in a research note on Monday, April 18th. Piper Sandler dropped their price objective on Tandem Diabetes Care from $170.00 to $120.00 in a research note on Thursday, May 5th. Cowen dropped their price objective on Tandem Diabetes Care from $141.00 to $107.00 in a research note on Thursday. Citigroup dropped their price objective on Tandem Diabetes Care from $107.00 to $98.00 in a research note on Thursday. Finally, StockNews.com downgraded Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Friday, July 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.40.

Tandem Diabetes Care Trading Up 1.6 %

NASDAQ TNDM opened at $59.54 on Thursday. The business’s 50-day moving average price is $60.98 and its two-hundred day moving average price is $89.98. Tandem Diabetes Care has a 12 month low of $52.08 and a 12 month high of $155.86. The firm has a market capitalization of $3.81 billion, a PE ratio of 744.34 and a beta of 0.80. The company has a current ratio of 6.21, a quick ratio of 5.60 and a debt-to-equity ratio of 0.64.

Tandem Diabetes Care (NASDAQ:TNDMGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($0.23) EPS for the quarter. The company had revenue of $175.91 million during the quarter, compared to the consensus estimate of $168.21 million. Tandem Diabetes Care had a net margin of 0.80% and a return on equity of 1.64%. The company’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. On average, analysts expect that Tandem Diabetes Care will post 0.35 EPS for the current year.

Insider Buying and Selling

In related news, COO David B. Berger sold 10,097 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $65.02, for a total transaction of $656,506.94. Following the transaction, the chief operating officer now directly owns 2,457 shares of the company’s stock, valued at approximately $159,754.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tandem Diabetes Care news, COO David B. Berger sold 10,097 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $65.02, for a total transaction of $656,506.94. Following the completion of the sale, the chief operating officer now directly owns 2,457 shares of the company’s stock, valued at approximately $159,754.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kim D. Blickenstaff sold 10,762 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $92.91, for a total value of $999,897.42. Following the sale, the director now directly owns 205,190 shares of the company’s stock, valued at $19,064,202.90. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNDM. Fifth Third Bancorp increased its holdings in Tandem Diabetes Care by 358.3% during the 2nd quarter. Fifth Third Bancorp now owns 440 shares of the medical device company’s stock worth $26,000 after purchasing an additional 344 shares in the last quarter. Exane Derivatives bought a new position in shares of Tandem Diabetes Care in the first quarter valued at approximately $33,000. Byrne Asset Management LLC bought a new position in shares of Tandem Diabetes Care in the fourth quarter valued at approximately $34,000. CI Investments Inc. grew its holdings in shares of Tandem Diabetes Care by 10,566.7% in the first quarter. CI Investments Inc. now owns 320 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 317 shares in the last quarter. Finally, Sandy Cove Advisors LLC bought a new position in shares of Tandem Diabetes Care in the first quarter valued at approximately $46,000. 94.62% of the stock is owned by institutional investors.

Tandem Diabetes Care Company Profile

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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.

Further Reading

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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