Tandem Diabetes Care (NASDAQ:TNDM) Trading Up 6.9% After Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s stock price was up 6.9% during mid-day trading on Tuesday after Barclays raised their price target on the stock from $51.00 to $55.00. Barclays currently has an overweight rating on the stock. Tandem Diabetes Care traded as high as $17.84 and last traded at $17.5010. Approximately 429,948 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,773,846 shares. The stock had previously closed at $16.37.

TNDM has been the subject of a number of other reports. Royal Bank Of Canada lowered their price target on Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company increased their target price on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley lifted their price target on shares of Tandem Diabetes Care from $13.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday. Wall Street Zen upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $24.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, September 29th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.25.

Institutional Inflows and Outflows

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

Tandem Diabetes Care Stock Performance

The firm has a 50 day moving average of $13.76 and a 200-day moving average of $16.19. The company has a market cap of $1.20 billion, a P/E ratio of -5.81 and a beta of 1.51. The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33.

Tandem Diabetes Care (NASDAQ:TNDM) last issued 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 return on equity of 73.97% and a negative net margin of 20.19%.The business had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. During the same period in the prior year, the business earned ($0.35) EPS. 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 anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

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.