Tandem Diabetes Care (NASDAQ:TNDM) Receives Hold Rating from Truist Financial

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

A number of other equities research analysts have also commented on the company. Piper Sandler reissued a “neutral” rating and issued a $21.00 price target (up from $14.00) on shares of Tandem Diabetes Care in a research report on Friday. Wells Fargo & Company upped their target price on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday, December 17th. Stifel Nicolaus boosted their price target on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday. Finally, TD Cowen started coverage on Tandem Diabetes Care in a research note on Tuesday, January 27th. They issued a “buy” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and an average price target of $28.00.

Tandem Diabetes Care Stock Performance

TNDM opened at $24.57 on Monday. The company has a current ratio of 2.55, a quick ratio of 2.02 and a debt-to-equity ratio of 2.00. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $35.12. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -8.00 and a beta of 1.68. The company’s fifty day moving average price is $20.91 and its two-hundred day moving average price is $17.04.

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

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Tandem Diabetes Care by 30.5% in the first quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock valued at $4,054,000 after acquiring an additional 49,408 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Tandem Diabetes Care by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock worth $1,426,000 after purchasing an additional 2,096 shares during the period. Millennium Management LLC boosted its stake in shares of Tandem Diabetes Care by 41.1% during the 1st quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock valued at $4,361,000 after purchasing an additional 66,245 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Tandem Diabetes Care during the first quarter valued at about $225,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Tandem Diabetes Care by 5.0% during the first quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock valued at $13,653,000 after buying an additional 34,069 shares during the period.

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.