Tandem Diabetes Care (NASDAQ:TNDM) Upgraded at Piper Sandler

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Tuesday, Marketbeat.com reports. The firm currently has a $33.00 price objective on the medical device company’s stock, up from their previous price objective of $21.00. Piper Sandler’s target price suggests a potential upside of 50.62% from the stock’s current price.

TNDM has been the subject of several other reports. The Goldman Sachs Group restated a “neutral” rating and issued a $28.00 price objective on shares of Tandem Diabetes Care in a report on Monday, February 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, December 17th. TD Cowen started 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. Morgan Stanley increased their price target on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Finally, Robert W. Baird set a $30.00 price objective on shares of Tandem Diabetes Care and gave the stock an “outperform” rating in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.78.

Tandem Diabetes Care Price Performance

Shares of TNDM stock opened at $21.91 on Tuesday. The firm has a market cap of $1.50 billion, a P/E ratio of -7.14 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 business’s 50 day moving average price is $21.31 and its 200-day moving average price is $18.43. 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 announced its earnings results on Thursday, February 19th. The medical device company reported ($0.01) EPS 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 during the quarter, compared to the consensus estimate of $277.14 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities research analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently modified their holdings of TNDM. Sector Gamma AS boosted its stake in Tandem Diabetes Care by 28.0% during the third quarter. Sector Gamma AS now owns 269,542 shares of the medical device company’s stock worth $3,272,000 after acquiring an additional 59,019 shares in the last quarter. Aberdeen Group plc lifted its holdings in shares of Tandem Diabetes Care by 67.9% during the third quarter. Aberdeen Group plc now owns 598,096 shares of the medical device company’s stock valued at $7,261,000 after purchasing an additional 241,878 shares during the last quarter. Champlain Investment Partners LLC boosted its position in shares of Tandem Diabetes Care by 6.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 1,455,123 shares of the medical device company’s stock worth $27,123,000 after purchasing an additional 86,235 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $513,000. Finally, Dynamic Technology Lab Private Ltd increased its position in Tandem Diabetes Care by 122.2% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,143 shares of the medical device company’s stock valued at $488,000 after buying an additional 14,377 shares in 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.