Tandem Diabetes Care (NASDAQ:TNDM) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note issued on Tuesday. The brokerage set a “neutral” rating and a $18.00 price target on the medical device company’s stock. UBS Group’s price objective points to a potential upside of 0.22% from the company’s previous close.

Several other research firms also recently commented on TNDM. Barclays set a $55.00 price objective on shares of Tandem Diabetes Care and gave the company an “overweight” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Tandem Diabetes Care in a research note on Tuesday, June 23rd. They set a “hold” rating and a $15.50 price objective on the stock. Bank of America decreased their price objective on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Truist Financial reaffirmed a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Finally, Citigroup reiterated a “neutral” rating and issued a $17.00 target price (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.73.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM traded up $0.79 during midday trading on Tuesday, reaching $17.96. The stock had a trading volume of 86,200 shares, compared to its average volume of 2,106,367. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $29.65. The stock has a 50-day moving average of $16.21 and a 200-day moving average of $18.99. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -12.80 and a beta of 1.58.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.16. The company had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. Tandem Diabetes Care’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.66) EPS. As a group, research analysts anticipate that Tandem Diabetes Care will post -0.72 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

A number of large investors have recently made changes to their positions in TNDM. Caitong International Asset Management Co. Ltd grew its holdings in shares of Tandem Diabetes Care by 200.0% in 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 purchasing an additional 1,470 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in 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 valued at $30,000 after buying an additional 593 shares in the last quarter. OP Asset Management Ltd purchased a new stake in Tandem Diabetes Care in the 1st quarter valued at about $35,000. Quarry LP boosted its position in Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after buying an additional 3,558 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its stake in Tandem Diabetes Care by 36.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after acquiring an additional 909 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.