Tandem Diabetes Care (NASDAQ:TNDM) Earns Neutral Rating from Analysts at UBS Group

UBS Group initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report published on Tuesday, Marketbeat reports. The firm issued a neutral rating and a $18.00 price target on the medical device company’s stock.

Other analysts also recently issued research reports about the company. Bank of America dropped their price objective on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Barclays set a $55.00 target price on Tandem Diabetes Care and gave the company an “overweight” rating in a research note on Monday, May 11th. Rothschild & Co Redburn set a $45.00 target price on Tandem Diabetes Care in a report on Friday, April 24th. Mizuho dropped their price target on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group set a $21.00 price target on shares of Tandem Diabetes Care in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.73.

Tandem Diabetes Care Trading Up 2.3%

Tandem Diabetes Care stock opened at $19.01 on Tuesday. The firm has a 50 day simple moving average of $16.43 and a 200-day simple moving average of $18.90. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07. The stock has a market capitalization of $1.30 billion, a PE ratio of -13.58 and a beta of 1.58. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.16. The business had revenue of $247.22 million for the quarter, compared to analyst estimates of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.66) earnings per share. As a group, equities research analysts expect that Tandem Diabetes Care will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Tandem Diabetes Care by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after buying an additional 278,042 shares during the period. Jennison Associates LLC boosted its holdings in shares of Tandem Diabetes Care by 42.3% in the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after buying an additional 601,260 shares during the period. Freestone Grove Partners LP acquired a new position in shares of Tandem Diabetes Care in the third quarter worth about $22,706,000. Goldman Sachs Group Inc. boosted its holdings in shares of Tandem Diabetes Care by 17.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,683,400 shares of the medical device company’s stock worth $37,001,000 after buying an additional 252,028 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Tandem Diabetes Care by 11.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,653,708 shares of the medical device company’s stock worth $36,349,000 after acquiring an additional 171,755 shares in the last quarter.

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.