Tandem Diabetes Care (NASDAQ:TNDM) Rating Reiterated by Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report released on Monday morning, Benzinga reports. They currently have a $45.00 price objective on the medical device company’s stock.

Several other equities analysts have also recently issued reports on TNDM. Barclays boosted their price target on Tandem Diabetes Care from $55.00 to $58.00 and gave the company an overweight rating in a research report on Monday, August 5th. Wells Fargo & Company boosted their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an overweight rating in a report on Friday, August 2nd. Oppenheimer increased their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an outperform rating in a report on Monday, June 10th. UBS Group raised shares of Tandem Diabetes Care to a hold rating in a research note on Friday, August 2nd. Finally, Redburn Atlantic started coverage on shares of Tandem Diabetes Care in a research note on Thursday, May 30th. They issued a buy rating and a $60.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $54.36.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $44.08 on Monday. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week high of $53.69. The company has a 50 day moving average of $42.20 and a 200 day moving average of $41.01. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The company had revenue of $221.90 million for the quarter, compared to analysts’ expectations of $205.63 million. During the same quarter last year, the company earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts predict that Tandem Diabetes Care will post -1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TNDM. Jennison Associates LLC increased its stake in Tandem Diabetes Care by 98.1% in the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after purchasing an additional 1,265,534 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Tandem Diabetes Care by 45.2% in the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after buying an additional 677,036 shares during the period. Victory Capital Management Inc. increased its position in shares of Tandem Diabetes Care by 2,836.2% in the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after buying an additional 389,632 shares in the last quarter. Kingdon Capital Management L.L.C. raised its stake in Tandem Diabetes Care by 153.9% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after buying an additional 298,880 shares during the period. Finally, First Light Asset Management LLC lifted its holdings in Tandem Diabetes Care by 49.1% during the second quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock worth $28,545,000 after acquiring an additional 233,405 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.