Truist Financial Initiates Coverage on Tandem Diabetes Care (NASDAQ:TNDM)

Research analysts at Truist Financial began coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report issued on Monday, Marketbeat.com reports. The brokerage set a “hold” rating and a $24.00 price target on the medical device company’s stock. Truist Financial’s price objective indicates a potential upside of 19.58% from the stock’s current price.

A number of other brokerages have also recently issued reports on TNDM. Barclays reduced their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company decreased their target price on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley downgraded shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $45.00 to $22.00 in a research report on Wednesday, March 5th. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. Finally, Canaccord Genuity Group lifted their price objective on Tandem Diabetes Care from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care presently has an average rating of “Hold” and a consensus price target of $33.43.

Tandem Diabetes Care Trading Up 0.1%

TNDM stock opened at $20.07 on Monday. Tandem Diabetes Care has a one year low of $15.75 and a one year high of $48.24. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -7.22 and a beta of 1.52. The company has a fifty day moving average price of $20.06 and a two-hundred day moving average price of $26.35. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). The company had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.65) EPS. Equities analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TNDM. Arizona State Retirement System lifted its holdings in shares of Tandem Diabetes Care by 1.9% in the fourth quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock worth $683,000 after acquiring an additional 362 shares during the last quarter. Bank of Montreal Can increased its position in Tandem Diabetes Care by 4.3% during the 4th quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock worth $360,000 after purchasing an additional 409 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Tandem Diabetes Care by 8.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock valued at $247,000 after purchasing an additional 525 shares during the last quarter. Assetmark Inc. boosted its position in Tandem Diabetes Care by 42.9% in the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after buying an additional 525 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after buying an additional 541 shares during the last quarter.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.