Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective upped by investment analysts at Morgan Stanley from $23.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical device company’s stock. Morgan Stanley’s target price suggests a potential upside of 1.65% from the company’s current price.

TNDM has been the subject of a number of other reports. Citigroup upped their price target on Tandem Diabetes Care from $16.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Wall Street Zen raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. TD Cowen began coverage on shares of Tandem Diabetes Care in a research report on Tuesday, January 27th. They set a “buy” rating and a $25.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Finally, UBS Group reaffirmed a “neutral” rating and set a $22.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Hold” and a consensus price target of $28.11.

Tandem Diabetes Care Trading Down 2.8%

TNDM traded down $0.71 during trading on Monday, reaching $24.59. 384,692 shares of the company’s stock were exchanged, compared to its average volume of 2,005,749. The company’s fifty day moving average price is $21.34 and its 200-day moving average price is $17.58. The firm has a market capitalization of $1.68 billion, a PE ratio of -8.02 and a beta of 1.62. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $29.65. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.02 and a current ratio of 2.55.

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

Hedge Funds Weigh In On Tandem Diabetes Care

A number of large investors have recently modified their holdings of TNDM. Caitong International Asset Management Co. Ltd raised its holdings in Tandem Diabetes Care by 200.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after acquiring an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after purchasing an additional 593 shares during the last quarter. Quarry LP raised its stake in shares of Tandem Diabetes Care by 2,597.1% during the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after purchasing an additional 3,558 shares in the last quarter. CWM LLC raised its stake in shares of Tandem Diabetes Care by 262.6% during the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after purchasing an additional 2,025 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in shares of Tandem Diabetes Care by 270.3% in the 3rd quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after buying an additional 3,468 shares during the last quarter.

About Tandem Diabetes Care

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.