Tandem Diabetes Care (NASDAQ:TNDM) Now Covered by Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report sent to investors on Wednesday, MarketBeat.com reports. The firm issued an outperform rating and a $42.00 target price on the medical device company’s stock.

Several other equities analysts have also weighed in on TNDM. Wells Fargo & Company raised their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley reissued an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Barclays lifted their price target on Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective for the company. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $30.60 on Wednesday. The firm has a market capitalization of $2.00 billion, a PE ratio of -15.85 and a beta of 1.36. The business’s fifty day moving average price is $38.73 and its two-hundred day moving average price is $41.86. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $53.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative return on equity of 43.11% and a negative net margin of 14.84%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period last year, the company posted ($0.38) EPS. On average, research analysts expect that Tandem Diabetes Care will post -1.76 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Tandem Diabetes Care by 11.2% in the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after buying an additional 431 shares during the last quarter. MN Wealth Advisors LLC lifted its position in Tandem Diabetes Care by 3.1% during the 2nd quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock worth $593,000 after acquiring an additional 440 shares during the last quarter. Signaturefd LLC boosted its holdings in Tandem Diabetes Care by 29.2% during the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 522 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tandem Diabetes Care by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock valued at $603,000 after purchasing an additional 592 shares during the last quarter. Finally, Assetmark Inc. bought a new position in shares of Tandem Diabetes Care in the third quarter worth about $29,000.

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.