Barclays Upgrades Tandem Diabetes Care (NASDAQ:TNDM) to “Hold”

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by equities researchers at Barclays to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other research firms have also commented on TNDM. William Blair began coverage on Tandem Diabetes Care in a report on Friday, August 21st. They set an “outperform” rating on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $26.00 price target (down from $30.00) on shares of Tandem Diabetes Care in a research report on Friday, August 7th. Canaccord Genuity Group set a $40.00 price objective on shares of Tandem Diabetes Care in a report on Friday, August 7th. Truist Financial cut their price objective on shares of Tandem Diabetes Care from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Finally, Mizuho reduced their target price on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.18.

Tandem Diabetes Care Price Performance

TNDM stock opened at $15.68 on Wednesday. The company has a debt-to-equity ratio of 4.62, a current ratio of 3.18 and a quick ratio of 2.65. The business has a 50 day simple moving average of $19.41 and a 200-day simple moving average of $18.19. The firm has a market capitalization of $1.09 billion, a PE ratio of -16.86 and a beta of 1.66. Tandem Diabetes Care has a 1 year low of $12.26 and a 1 year high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. The firm had revenue of $254.56 million for the quarter, compared to the consensus estimate of $254.99 million. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.78) earnings per share. Equities research analysts anticipate that Tandem Diabetes Care will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. OP Asset Management Ltd purchased a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at approximately $35,000. Integrated Wealth Concepts LLC acquired a new stake in Tandem Diabetes Care in the 2nd quarter valued at approximately $33,000. Leonteq Securities AG raised its position in Tandem Diabetes Care by 21.7% in the first quarter. Leonteq Securities AG now owns 9,501 shares of the medical device company’s stock valued at $182,000 after purchasing an additional 1,695 shares during the period. Prosperitas Financial LLC acquired a new position in Tandem Diabetes Care during the second quarter worth $151,000. Finally, Pictet Asset Management Holding SA acquired a new position in Tandem Diabetes Care during the first quarter worth $206,000.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company’s products are designed to work with continuous glucose monitoring (CGM) systems and digital health tools to help automate and personalize insulin therapy.

Tandem’s product portfolio includes the t:slim X2 insulin pump, which features a rechargeable design and software that supports automated insulin delivery. The company also offers the t:slim X2 pump with Control-IQ technology, an algorithm designed to adjust insulin delivery based on CGM readings, and the compact Tandem Mobi pump.