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Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) – Equities research analysts at Oppenheimer lowered their Q3 2022 earnings per share (EPS) estimates for shares of Tandem Diabetes Care in a research note issued to investors on Thursday, May 5th. Oppenheimer analyst S. Lichtman now anticipates that the medical device company will post earnings of $0.15 per share for the quarter, down from their prior estimate of $0.17. Oppenheimer also issued estimates for Tandem Diabetes Care’s FY2022 earnings at $0.32 EPS and FY2023 earnings at $0.91 EPS.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.16). Tandem Diabetes Care had a return on equity of 1.64% and a net margin of 0.80%. The firm had revenue of $175.91 million for the quarter, compared to analyst estimates of $168.21 million. During the same period in the prior year, the business earned ($0.07) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 24.7% on a year-over-year basis.

Several other research firms have also recently issued reports on TNDM. Wells Fargo & Company raised their price target on shares of Tandem Diabetes Care from $160.00 to $166.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 23rd. Piper Sandler cut their price objective on shares of Tandem Diabetes Care from $170.00 to $120.00 in a report on Thursday. Bank of America began coverage of shares in Tandem Diabetes Care in a report on Wednesday, March 2nd. They set a “neutral” rating and a $130.00 price objective on the stock. StockNews.com began coverage on shares of Tandem Diabetes Care in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research lowered shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating and set a $111.00 price objective on the stock. in a report on Tuesday, April 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $137.55.

Tandem Diabetes Care stock opened at $76.00 on Monday. Tandem Diabetes Care has a 12-month low of $74.39 and a 12-month high of $155.86. The stock has a market capitalization of $4.86 billion, a P/E ratio of 950.12 and a beta of 0.66. The firm’s 50-day moving average is $109.54 and its two-hundred day moving average is $122.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.21 and a quick ratio of 5.63.

Several institutional investors and hedge funds have recently bought and sold shares of the company. WCM Investment Management LLC raised its stake in shares of Tandem Diabetes Care by 10.3% during the first quarter. WCM Investment Management LLC now owns 106,276 shares of the medical device company’s stock valued at $12,359,000 after purchasing an additional 9,964 shares during the period. New York State Common Retirement Fund raised its stake in shares of Tandem Diabetes Care by 16.0% during the first quarter. New York State Common Retirement Fund now owns 300,703 shares of the medical device company’s stock valued at $34,969,000 after purchasing an additional 41,394 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Tandem Diabetes Care by 77.7% during the first quarter. Russell Investments Group Ltd. now owns 10,599 shares of the medical device company’s stock valued at $1,230,000 after purchasing an additional 4,633 shares during the period. Stephens Investment Management Group LLC raised its stake in shares of Tandem Diabetes Care by 1.8% during the first quarter. Stephens Investment Management Group LLC now owns 833,969 shares of the medical device company’s stock valued at $96,982,000 after purchasing an additional 14,354 shares during the period. Finally, Stephens Inc. AR grew its position in shares of Tandem Diabetes Care by 286.3% during the first quarter. Stephens Inc. AR now owns 931 shares of the medical device company’s stock worth $108,000 after buying an additional 690 shares in the last quarter. Institutional investors own 94.62% of the company’s stock.

In other news, Director Rebecca B. Robertson sold 1,500 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $96.73, for a total transaction of $145,095.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kathleen Mcgroddy-Goetz sold 405 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $106.00, for a total transaction of $42,930.00. The disclosure for this sale can be found here. Insiders sold 7,905 shares of company stock worth $842,555 in the last 90 days. 4.80% of the stock is currently owned by insiders.

About Tandem Diabetes Care (Get Rating)

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.

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Earnings History and Estimates for Tandem Diabetes Care (NASDAQ:TNDM)



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