Tandem Diabetes Care (NASDAQ:TNDM) Given New $55.00 Price Target at Barclays

Tandem Diabetes Care (NASDAQ:TNDM) had its target price lifted by stock analysts at Barclays from $51.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical device company’s stock. Barclays‘s target price would suggest a potential upside of 245.89% from the company’s current price.

A number of other research firms have also issued reports on TNDM. UBS Group lowered their target price on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Piper Sandler cut shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $14.00 in a report on Thursday, August 7th. Oppenheimer initiated coverage on Tandem Diabetes Care in a research report on Monday, September 8th. They issued an “outperform” rating and a $22.00 price target on the stock. Citigroup reissued a “neutral” rating and set a $15.00 price objective (up previously from $11.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 7th. Finally, Morgan Stanley increased their target price on Tandem Diabetes Care from $13.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.25.

Tandem Diabetes Care Stock Down 2.2%

Shares of NASDAQ TNDM traded down $0.36 during mid-day trading on Monday, reaching $15.90. 1,601,951 shares of the company traded hands, compared to its average volume of 1,772,465. The company’s fifty day moving average is $13.68 and its two-hundred day moving average is $16.20. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $38.28. The stock has a market cap of $1.07 billion, a PE ratio of -5.21 and a beta of 1.51.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The firm had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Tandem Diabetes Care has set its FY 2025 guidance at EPS. On average, analysts expect that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNDM. Sessa Capital IM L.P. bought a new stake in shares of Tandem Diabetes Care in the 1st quarter worth approximately $85,574,000. GW&K Investment Management LLC raised its stake in shares of Tandem Diabetes Care by 34.9% in the first quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock valued at $54,874,000 after purchasing an additional 740,499 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Tandem Diabetes Care by 10.9% in the second quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock valued at $47,811,000 after purchasing an additional 252,934 shares in the last quarter. Paradice Investment Management LLC lifted its position in Tandem Diabetes Care by 24.3% in the third quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock worth $26,665,000 after purchasing an additional 429,289 shares during the period. Finally, Stephens Investment Management Group LLC boosted its stake in Tandem Diabetes Care by 1.8% during the second quarter. Stephens Investment Management Group LLC now owns 1,737,769 shares of the medical device company’s stock worth $32,392,000 after buying an additional 30,854 shares in the last quarter.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.