Tandem Diabetes Care (NASDAQ:TNDM) Earns “Hold” Rating from Truist Financial

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “hold” rating reaffirmed by investment analysts at Truist Financial in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $27.00 price target on the medical device company’s stock, up from their prior price target of $24.00. Truist Financial’s target price would suggest a potential upside of 9.89% from the stock’s previous close.

Several other analysts have also issued reports on TNDM. Barclays reiterated an “overweight” rating and set a $56.00 price target on shares of Tandem Diabetes Care in a research report on Monday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday, December 17th. Citigroup upped their price objective on Tandem Diabetes Care from $16.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Canaccord Genuity Group set a $35.00 price objective on Tandem Diabetes Care and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, UBS Group reissued a “neutral” rating and set a $22.00 target price (up previously from $17.00) on shares of Tandem Diabetes Care in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.00.

Tandem Diabetes Care Stock Up 32.7%

TNDM opened at $24.57 on Monday. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $35.12. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.02 and a current ratio of 2.55. The stock has a fifty day moving average of $20.91 and a 200-day moving average of $17.04. The company has a market capitalization of $1.68 billion, a P/E ratio of -8.00 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, February 19th. The medical device company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $290.38 million for the quarter, compared to analysts’ expectations of $277.14 million. Tandem Diabetes Care had a negative net margin of 20.17% and a negative return on equity of 68.23%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. On average, equities analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Freestone Grove Partners LP bought a new position in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $22,706,000. Ophir Asset Management Pty Ltd bought a new stake in shares of Tandem Diabetes Care in the 2nd quarter valued at $27,307,000. Assenagon Asset Management S.A. acquired a new position in shares of Tandem Diabetes Care during the 4th quarter valued at $26,988,000. First Light Asset Management LLC acquired a new position in shares of Tandem Diabetes Care during the 4th quarter valued at $23,947,000. Finally, BNP Paribas Financial Markets boosted its stake in Tandem Diabetes Care by 468.5% during the fourth quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock worth $27,442,000 after acquiring an additional 1,028,866 shares in 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.