Tandem Diabetes Care (NASDAQ:TNDM) Earns Buy Rating from Analysts at TD Cowen

TD Cowen began coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $25.00 price objective on the medical device company’s stock.

Several other analysts also recently issued reports on TNDM. Barclays lifted their price target 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. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday, December 17th. Canaccord Genuity Group set a $35.00 target price on Tandem Diabetes Care and gave the company a “buy” rating in a research note on Wednesday, December 17th. Truist Financial set a $24.00 price target on Tandem Diabetes Care and gave the stock a “hold” rating in a research report on Thursday, December 18th. Finally, Morgan Stanley set a $23.00 price objective on shares of Tandem Diabetes Care and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.06.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $19.76 on Tuesday. The firm has a market cap of $1.34 billion, a P/E ratio of -6.48 and a beta of 1.68. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $37.93. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The firm’s 50 day moving average price is $21.35 and its two-hundred day moving average price is $16.58.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, hitting analysts’ consensus estimates of ($0.31). The business had revenue of $249.25 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted ($0.35) earnings per share. On average, analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently made changes to their positions in TNDM. Caitong International Asset Management Co. Ltd raised its position in Tandem Diabetes Care by 200.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after acquiring an additional 1,470 shares in the last quarter. CWM LLC raised its holdings in shares of Tandem Diabetes Care by 262.6% in the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after purchasing an additional 2,025 shares during the period. Farther Finance Advisors LLC lifted its stake in Tandem Diabetes Care by 36.6% in the 4th quarter. Farther Finance Advisors LLC now owns 3,600 shares of the medical device company’s stock valued at $79,000 after purchasing an additional 965 shares during the last quarter. Quarry LP grew its holdings in Tandem Diabetes Care by 2,597.1% during the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after purchasing an additional 3,558 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Tandem Diabetes Care by 186.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after buying an additional 2,717 shares during 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.