Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Upgraded by Truist Financial

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by stock analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $35.00 price target on the medical device company’s stock, up from their prior price target of $27.00. Truist Financial’s price target would indicate a potential upside of 41.02% from the stock’s current price.

TNDM has been the topic of several other research reports. Lake Street Capital upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, February 23rd. Barclays reaffirmed an “overweight” rating and issued a $56.00 price target on shares of Tandem Diabetes Care in a research report on Monday, February 23rd. Mizuho set a $22.00 price objective on Tandem Diabetes Care and gave the stock a “neutral” rating in a research note on Friday, February 20th. Canaccord Genuity Group set a $35.00 price objective on Tandem Diabetes Care and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Citigroup raised their target price on Tandem Diabetes Care from $16.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.22.

Tandem Diabetes Care Stock Up 0.8%

Shares of Tandem Diabetes Care stock opened at $24.82 on Thursday. The stock has a market capitalization of $1.70 billion, a P/E ratio of -8.08 and a beta of 1.63. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. The stock has a 50 day moving average price of $21.45 and a two-hundred day moving average price of $18.68. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, February 19th. The medical device company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The company had revenue of $290.38 million for the quarter, compared to the consensus estimate of $277.14 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts expect that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after purchasing an additional 278,042 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after buying an additional 991,649 shares in the last quarter. Hood River Capital Management LLC increased its holdings in Tandem Diabetes Care by 10.9% in the 2nd quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock valued at $47,811,000 after buying an additional 252,934 shares during the period. Paradice Investment Management LLC raised its stake in shares of Tandem Diabetes Care by 24.3% in the 3rd quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock valued at $26,665,000 after buying an additional 429,289 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Tandem Diabetes Care by 42.3% in the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after buying an additional 601,260 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.