Piper Sandler Reiterates “Overweight” Rating for Tandem Diabetes Care (NASDAQ:TNDM)

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a note issued to investors on Friday, Benzinga reports. They currently have a $55.00 price objective on the medical device company’s stock, up from their previous price objective of $50.00. Piper Sandler’s target price would suggest a potential upside of 28.99% from the company’s previous close.

A number of other equities research analysts also recently weighed in on TNDM. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Barclays boosted their target price on shares of Tandem Diabetes Care from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. SVB Leerink upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and increased their price target for the company from $34.00 to $45.00 in a research note on Thursday, April 25th. Wells Fargo & Company upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $21.00 to $45.00 in a research report on Monday, April 29th. Finally, Lake Street Capital upped their target price on Tandem Diabetes Care from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.67.

Tandem Diabetes Care Price Performance

NASDAQ TNDM traded up $7.43 on Friday, hitting $42.64. 1,435,632 shares of the company’s stock were exchanged, compared to its average volume of 1,707,047. The stock has a 50-day moving average of $44.38 and a 200-day moving average of $36.10. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -19.59 and a beta of 1.28. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $53.69. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. The company had revenue of $221.90 million during the quarter, compared to analysts’ expectations of $205.63 million. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. Tandem Diabetes Care’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) EPS. Analysts expect that Tandem Diabetes Care will post -1.71 earnings per share for the current year.

Insider Buying and Selling

In other Tandem Diabetes Care news, Director Dick Allen sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.68, for a total transaction of $258,400.00. Following the completion of the transaction, the director now owns 24,396 shares in the company, valued at approximately $1,260,785.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.

Institutional Trading of Tandem Diabetes Care

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Tandem Diabetes Care by 11.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock valued at $172,000 after purchasing an additional 431 shares during the period. MN Wealth Advisors LLC lifted its stake in Tandem Diabetes Care by 3.1% in the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock valued at $593,000 after buying an additional 440 shares during the period. MCF Advisors LLC boosted its holdings in shares of Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after buying an additional 445 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Tandem Diabetes Care by 8.6% during the 4th quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company’s stock worth $175,000 after buying an additional 467 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Tandem Diabetes Care by 29.2% in the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 522 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.