Wells Fargo & Company Forecasts Strong Price Appreciation for Tandem Diabetes Care (NASDAQ:TNDM) Stock

Tandem Diabetes Care (NASDAQ:TNDM) had its target price boosted by analysts at Wells Fargo & Company from $13.00 to $14.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the medical device company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 13.90% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Lake Street Capital downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $12.00 in a report on Monday, August 11th. Piper Sandler lowered shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and cut their target price for the company from $30.00 to $14.00 in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, October 8th. Wall Street Zen cut Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. Finally, Oppenheimer started coverage on Tandem Diabetes Care in a research note on Monday, September 8th. They set an “outperform” rating and a $22.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.25.

Tandem Diabetes Care Price Performance

TNDM traded up $2.93 during trading on Friday, reaching $16.26. The stock had a trading volume of 6,034,550 shares, compared to its average volume of 1,773,531. The stock has a 50 day moving average of $13.61 and a two-hundred day moving average of $16.20. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.26 and a beta of 1.51. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $38.28.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, hitting analysts’ consensus estimates of ($0.31). The company had revenue of $249.25 million for the quarter, compared to the consensus estimate of $235.80 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.35) EPS. Tandem Diabetes Care has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Activity at Tandem Diabetes Care

In other news, CEO John F. Sheridan acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average price of $10.23 per share, with a total value of $102,300.00. Following the purchase, the chief executive officer owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Tandem Diabetes Care

Hedge funds have recently modified their holdings of the business. Sessa Capital IM L.P. acquired a new position in Tandem Diabetes Care in the first quarter worth approximately $85,574,000. GW&K Investment Management LLC grew its position in 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 worth $54,874,000 after acquiring an additional 740,499 shares in the last quarter. Hood River Capital Management LLC grew its position in 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 worth $47,811,000 after acquiring an additional 252,934 shares in the last quarter. Paradice Investment Management LLC increased its stake in shares of Tandem Diabetes Care by 24.3% during the 3rd 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 last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Tandem Diabetes Care by 1.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,737,769 shares of the medical device company’s stock valued at $32,392,000 after purchasing an additional 30,854 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.