Tandem Diabetes Care (TNDM) Receives New Coverage from Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report published on Monday. The brokerage issued a buy rating and a $30.00 price objective on the medical device company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Cowen raised shares of Tandem Diabetes Care from a market perform rating to an outperform rating in a research note on Wednesday, March 28th. Oppenheimer set a $15.00 target price on shares of Tandem Diabetes Care and gave the company a buy rating in a research note on Sunday, May 27th. BidaskClub raised shares of Tandem Diabetes Care from a buy rating to a strong-buy rating in a research note on Wednesday, April 11th. Robert W. Baird raised shares of Tandem Diabetes Care from a neutral rating to an outperform rating in a research note on Friday, March 23rd. Finally, Zacks Investment Research downgraded shares of Tandem Diabetes Care from a buy rating to a hold rating in a research note on Saturday, March 31st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $13.25.

TNDM opened at $19.64 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 6.45. The company has a market cap of $996.85 million, a P/E ratio of -1.53 and a beta of -0.10. Tandem Diabetes Care has a fifty-two week low of $2.14 and a fifty-two week high of $20.71.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, April 26th. The medical device company reported ($1.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.44). The company had revenue of $27.30 million for the quarter, compared to analyst estimates of $25.32 million. Tandem Diabetes Care’s revenue was up 43.7% compared to the same quarter last year. During the same period last year, the business posted ($0.75) earnings per share. equities research analysts anticipate that Tandem Diabetes Care will post -1.47 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Barclays PLC increased its stake in Tandem Diabetes Care by 75.7% in the first quarter. Barclays PLC now owns 47,100 shares of the medical device company’s stock valued at $234,000 after purchasing an additional 20,300 shares in the last quarter. Gabelli Funds LLC bought a new stake in Tandem Diabetes Care in the first quarter valued at approximately $102,000. Cetera Advisor Networks LLC bought a new stake in Tandem Diabetes Care in the first quarter valued at approximately $117,000. A.R.T. Advisors LLC increased its position in shares of Tandem Diabetes Care by 284.4% during the first quarter. A.R.T. Advisors LLC now owns 38,518 shares of the medical device company’s stock worth $191,000 after acquiring an additional 28,499 shares in the last quarter. Finally, Element Capital Management LLC bought a new stake in shares of Tandem Diabetes Care during the first quarter worth $184,000. 47.09% of the stock is owned by hedge funds and other institutional investors.

Tandem Diabetes Care 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. The company’s flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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