Tandem Diabetes Care (NASDAQ:TNDM) Earns “Hold” Rating from Truist Financial

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “hold” rating restated by analysts at Truist Financial in a report issued on Monday,Benzinga reports. They currently have a $17.00 target price on the medical device company’s stock, up from their prior target price of $16.00. Truist Financial’s price target points to a potential upside of 7.70% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 29th. Piper Sandler cut shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $30.00 to $14.00 in a research report on Thursday, August 7th. Citigroup reiterated a “neutral” rating and set a $15.00 target price (up previously from $11.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 7th. Wall Street Zen raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Stifel Nicolaus assumed coverage on Tandem Diabetes Care in a report on Tuesday, October 21st. They set a “hold” rating and a $15.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.31.

Tandem Diabetes Care Trading Down 2.9%

Shares of Tandem Diabetes Care stock traded down $0.48 during trading on Monday, hitting $15.79. 1,185,495 shares of the company were exchanged, compared to its average volume of 1,770,235. The firm has a market capitalization of $1.07 billion, a P/E ratio of -5.17 and a beta of 1.51. The firm’s fifty day moving average price is $13.68 and its 200 day moving average price is $16.20. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90. 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 earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, hitting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The company had revenue of $249.25 million for the quarter, compared to analyst estimates of $235.80 million. During the same period last year, the business posted ($0.35) earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Tandem Diabetes Care has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently modified their holdings of the company. Sessa Capital IM L.P. acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at about $85,574,000. Ophir Asset Management Pty Ltd bought a new stake in Tandem Diabetes Care in the second quarter valued at approximately $27,307,000. GW&K Investment Management LLC lifted its position 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 buying an additional 740,499 shares during the last quarter. Paradice Investment Management LLC boosted 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 acquiring an additional 429,289 shares during the period. Finally, Nuveen LLC bought a new position in shares of Tandem Diabetes Care during the 1st quarter worth approximately $5,907,000.

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.