Tandem Diabetes Care (NASDAQ:TNDM) Coverage Initiated at TD Cowen

Equities researchers at TD Cowen began coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $25.00 price target on the medical device company’s stock. TD Cowen’s price objective would indicate a potential upside of 30.82% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird set a $30.00 price target on shares of Tandem Diabetes Care and gave the company an “outperform” rating in a research report on Tuesday, December 16th. Truist Financial set a $24.00 target price on Tandem Diabetes Care and gave the company a “hold” rating in a report on Thursday, December 18th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $25.00 target price (up previously from $18.00) on shares of Tandem Diabetes Care in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, January 21st. Finally, Barclays raised their price objective on Tandem Diabetes Care from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tandem Diabetes Care presently has an average rating of “Hold” and an average target price of $24.06.

Tandem Diabetes Care Trading Down 5.2%

TNDM opened at $19.11 on Tuesday. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $37.93. The company has a fifty day moving average of $21.34 and a 200-day moving average of $16.56. The stock has a market cap of $1.30 billion, a PE ratio of -6.27 and a beta of 1.68. The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.31). The company had revenue of $249.25 million for the quarter, compared to analysts’ expectations of $235.80 million. Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.Tandem Diabetes Care’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned ($0.35) EPS. On average, sell-side analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC increased its stake in shares of Tandem Diabetes Care by 54.0% in the second quarter. Acadian Asset Management LLC now owns 358,516 shares of the medical device company’s stock worth $6,676,000 after purchasing an additional 125,644 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Tandem Diabetes Care by 9.0% during the second quarter. State of Alaska Department of Revenue now owns 39,660 shares of the medical device company’s stock valued at $739,000 after acquiring an additional 3,269 shares in the last quarter. Sector Gamma AS increased its holdings in Tandem Diabetes Care by 28.0% during the 3rd quarter. Sector Gamma AS now owns 269,542 shares of the medical device company’s stock worth $3,272,000 after acquiring an additional 59,019 shares during the period. Champlain Investment Partners LLC lifted its stake in Tandem Diabetes Care by 6.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 1,455,123 shares of the medical device company’s stock worth $27,123,000 after purchasing an additional 86,235 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Tandem Diabetes Care by 122.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,143 shares of the medical device company’s stock worth $488,000 after purchasing an additional 14,377 shares in the last quarter.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.