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

Piper Sandler upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a neutral rating to an overweight rating in a report released on Tuesday morning, Marketbeat reports. They currently have $33.00 price objective on the medical device company’s stock, up from their prior price objective of $21.00.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $28.00 target price 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. Truist Financial reiterated a “hold” rating and issued a $27.00 price target (up from $24.00) on shares of Tandem Diabetes Care in a research note on Monday, February 23rd. Stifel Nicolaus increased their price objective on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, February 20th. Finally, TD Cowen began coverage on Tandem Diabetes Care in a research report on Tuesday, January 27th. They set a “buy” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Tandem Diabetes Care currently has an average rating of “Hold” and an average price target of $29.22.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM opened at $24.63 on Tuesday. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $29.65. The business has a 50-day moving average price of $21.39 and a 200-day moving average price of $18.59. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -8.02 and a beta of 1.63.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the company earned $0.01 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several large investors have recently bought and sold shares of the business. Corient Private Wealth LLC bought a new position in Tandem Diabetes Care during the fourth quarter valued at $429,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Tandem Diabetes Care in the 4th quarter worth about $248,000. EP Wealth Advisors LLC bought a new stake in shares of Tandem Diabetes Care in the 4th quarter worth about $219,000. Wellington Management Group LLP purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter valued at about $2,161,000. Finally, Man Group plc purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter valued at about $281,000.

Tandem Diabetes Care Company Profile

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.