Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Raised to Hold at Barclays

Barclays upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) to a hold rating in a report issued on Wednesday morning,Zacks reports.

A number of other equities research analysts have also recently weighed in on the stock. Mizuho cut their price objective on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Zacks Research lowered shares of Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tandem Diabetes Care in a research note on Tuesday, June 23rd. They set a “hold” rating and a $15.50 target price on the stock. Canaccord Genuity Group set a $40.00 price target on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Finally, William Blair started coverage on shares of Tandem Diabetes Care in a research note on Friday, August 21st. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.18.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $15.84 on Wednesday. Tandem Diabetes Care has a 12-month low of $12.26 and a 12-month high of $29.65. The company has a debt-to-equity ratio of 4.62, a current ratio of 3.18 and a quick ratio of 2.65. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -17.03 and a beta of 1.66. The business has a 50 day simple moving average of $19.48 and a 200 day simple moving average of $18.25.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.01. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.The firm had revenue of $254.56 million for the quarter, compared to the consensus estimate of $254.99 million. During the same quarter in the previous year, the business earned ($0.78) EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Tandem Diabetes Care will post -0.66 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in TNDM. Squarepoint Ops LLC acquired a new stake in shares of Tandem Diabetes Care during the 2nd quarter valued at $3,280,000. First Light Asset Management LLC grew its holdings in shares of Tandem Diabetes Care by 157.4% in the 2nd quarter. First Light Asset Management LLC now owns 3,383,553 shares of the medical device company’s stock worth $51,058,000 after acquiring an additional 2,068,838 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Tandem Diabetes Care by 42.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 193,556 shares of the medical device company’s stock worth $3,710,000 after acquiring an additional 57,803 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth $1,116,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Tandem Diabetes Care during the second quarter worth $976,000.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company’s products are designed to work with continuous glucose monitoring (CGM) systems and digital health tools to help automate and personalize insulin therapy.

Tandem’s product portfolio includes the t:slim X2 insulin pump, which features a rechargeable design and software that supports automated insulin delivery. The company also offers the t:slim X2 pump with Control-IQ technology, an algorithm designed to adjust insulin delivery based on CGM readings, and the compact Tandem Mobi pump.