Equities Analysts Issue Forecasts for TNDM FY2029 Earnings

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) – Stock analysts at Leerink Partnrs issued their FY2029 earnings per share estimates for Tandem Diabetes Care in a report released on Thursday, February 27th. Leerink Partnrs analyst M. Kratky forecasts that the medical device company will post earnings per share of $0.73 for the year. The consensus estimate for Tandem Diabetes Care’s current full-year earnings is ($1.68) per share.

Other analysts have also issued reports about the company. Royal Bank of Canada reduced their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday. Citigroup cut their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Robert W. Baird cut their price target on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays cut their price target on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Sanford C. Bernstein lowered Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their price target for the company from $35.00 to $25.00 in a research note on Friday. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.88.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $22.14 on Friday. The stock’s 50-day simple moving average is $35.22 and its 200 day simple moving average is $36.52. The firm has a market capitalization of $1.45 billion, a PE ratio of -11.47 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a twelve month low of $20.36 and a twelve month high of $53.69.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently made changes to their positions in the stock. Bellevue Group AG increased its holdings in Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after purchasing an additional 307,624 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Tandem Diabetes Care by 134.6% in the third quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock worth $8,379,000 after purchasing an additional 113,355 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Tandem Diabetes Care by 129.1% in the third quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock worth $1,587,000 after purchasing an additional 21,086 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Tandem Diabetes Care by 368.5% in the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock worth $1,108,000 after purchasing an additional 20,549 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Tandem Diabetes Care by 32.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock worth $11,540,000 after purchasing an additional 66,687 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.