Tandem Diabetes Care (NASDAQ:TNDM) Now Covered by TD Cowen

Stock analysts at TD Cowen assumed coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research 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 target price would indicate a potential upside of 22.58% from the company’s previous close.

Several other equities analysts have also issued reports on TNDM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, January 21st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $25.00 target price on shares of Tandem Diabetes Care in a report on Friday, January 9th. Truist Financial set a $24.00 price target on shares of Tandem Diabetes Care and gave the company a “hold” rating in a research report on Thursday, December 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Tandem Diabetes Care in a research report on Wednesday, December 17th. Finally, Stifel Nicolaus started coverage on Tandem Diabetes Care in a report on Tuesday, October 21st. They issued a “hold” rating and a $15.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.06.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock traded up $0.20 during trading on Tuesday, hitting $20.40. The company’s stock had a trading volume of 181,040 shares, compared to its average volume of 1,259,437. The business has a fifty day moving average of $21.30 and a 200-day moving average of $16.51. The company has a current ratio of 2.44, a quick ratio of 1.90 and a debt-to-equity ratio of 2.33. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week high of $37.93. The company has a market cap of $1.38 billion, a PE ratio of -6.68 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, hitting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The company had revenue of $249.25 million during the quarter, compared to the consensus estimate of $235.80 million. During the same quarter in the prior year, the company earned ($0.35) EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Tandem Diabetes Care by 200.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after buying an additional 1,470 shares in the last quarter. Quarry LP boosted its stake in Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 3,558 shares in the last quarter. CWM LLC grew its holdings in shares of Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after purchasing an additional 2,025 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of Tandem Diabetes Care by 270.3% during the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock worth $58,000 after purchasing an additional 3,468 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Tandem Diabetes Care by 485.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock valued at $63,000 after purchasing an additional 4,269 shares during the period.

About Tandem Diabetes Care

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.