Tandem Diabetes Care’s (TNDM) “Hold” Rating Reaffirmed at Truist Financial

Truist Financial reaffirmed their hold rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note published on Monday,Benzinga reports. Truist Financial currently has a $17.00 target price on the medical device company’s stock, up from their previous target price of $16.00.

Several other research analysts also recently weighed in on TNDM. UBS Group cut their price target on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Wall Street Zen raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup reiterated a “neutral” rating and issued a $15.00 target price (up from $11.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Wednesday, October 8th. Finally, Oppenheimer began coverage on Tandem Diabetes Care in a report on Monday, September 8th. They issued an “outperform” rating and a $22.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.25.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $16.37 on Monday. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $38.28. The stock has a market capitalization of $1.11 billion, a P/E ratio of -5.37 and a beta of 1.51. The firm’s 50-day moving average is $13.76 and its two-hundred day moving average is $16.19. 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 (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.31). The business had revenue of $249.25 million during the quarter, compared to analyst estimates of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.35) earnings per share. Tandem Diabetes Care has set its FY 2025 guidance at EPS. Equities analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in shares of Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after purchasing an additional 525 shares during the period. CWM LLC raised its holdings in Tandem Diabetes Care by 262.6% in the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after buying an additional 2,025 shares during the period. CoreCap Advisors LLC lifted its position in Tandem Diabetes Care by 270.3% during the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after buying an additional 3,468 shares in the last quarter. Brooklyn Investment Group grew its stake in Tandem Diabetes Care by 417.8% during the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock worth $65,000 after buying an additional 2,741 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Tandem Diabetes Care by 186.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after buying an additional 2,717 shares during the period.

About Tandem Diabetes Care

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.