Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $17.00 at Morgan Stanley

Tandem Diabetes Care (NASDAQ:TNDM) had its price target upped by Morgan Stanley from $13.00 to $17.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the medical device company’s stock. Morgan Stanley’s price target points to a potential upside of 7.26% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Lake Street Capital cut shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and lowered their price objective for the company from $75.00 to $12.00 in a research note on Monday, August 11th. Oppenheimer initiated coverage on shares of Tandem Diabetes Care in a research note on Monday, September 8th. They issued an “outperform” rating and a $22.00 target price for the company. Wall Street Zen upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group decreased their price objective on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Piper Sandler lowered Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock traded down $0.41 during trading hours on Monday, hitting $15.85. The stock had a trading volume of 1,492,659 shares, compared to its average volume of 1,771,726. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -5.20 and a beta of 1.51. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $38.28. The stock’s fifty day moving average is $13.68 and its two-hundred day moving average is $16.20.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 20.19% and a negative return on equity of 73.97%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned ($0.35) EPS. Tandem Diabetes Care has set its FY 2025 guidance at EPS. As a group, analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors have recently made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of 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 purchasing an additional 525 shares in the last quarter. Amalgamated Bank lifted its stake in Tandem Diabetes Care by 3.5% in the third quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock valued at $238,000 after buying an additional 657 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Tandem Diabetes Care by 8.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,101 shares of the medical device company’s stock worth $319,000 after purchasing an additional 1,384 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its position in Tandem Diabetes Care by 10.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,299 shares of the medical device company’s stock worth $285,000 after acquiring an additional 1,399 shares during the last quarter. Finally, State of Wyoming boosted its position in Tandem Diabetes Care by 49.1% during the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock valued at $86,000 after purchasing an additional 1,471 shares during the last quarter.

About Tandem Diabetes Care

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.