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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price rose 6.9% 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 traded hands during trading, a decline of 76% from the average daily volume of 1,773,846 shares. The stock had previously closed at $16.37.

Several other equities research analysts also recently issued reports on TNDM. UBS Group dropped their price objective on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Morgan Stanley raised 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 report on Monday. Oppenheimer assumed coverage on shares of Tandem Diabetes Care in a research note on Monday, September 8th. They issued an “outperform” rating and a $22.00 price target for the company. Lake Street Capital downgraded shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $12.00 in a research note on Monday, August 11th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price objective on shares of Tandem Diabetes Care in a report on Monday, September 29th. 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 stock. Based on data from MarketBeat, Tandem Diabetes Care has an average rating of “Hold” and an average target price of $21.25.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently modified their holdings of TNDM. Assetmark Inc. increased its holdings in shares of Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after acquiring an additional 525 shares during the period. Amalgamated Bank grew its position in Tandem Diabetes Care by 3.5% in the 3rd quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock worth $238,000 after purchasing an additional 657 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Tandem Diabetes Care by 8.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,101 shares of the medical device company’s stock worth $319,000 after purchasing an additional 1,384 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Tandem Diabetes Care by 10.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,299 shares of the medical device company’s stock valued at $285,000 after purchasing an additional 1,399 shares during the period. Finally, State of Wyoming raised its holdings in shares of Tandem Diabetes Care by 49.1% during the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock valued at $86,000 after buying an additional 1,471 shares during the last quarter.

Tandem Diabetes Care Stock Performance

The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -5.74 and a beta of 1.51. The company has a 50-day moving average price of $13.85 and a 200-day moving average price of $16.18. 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 posted its earnings results on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, meeting 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 firm had revenue of $249.25 million for the quarter, compared to analysts’ expectations of $235.80 million. During the same period last year, the firm earned ($0.35) EPS. The firm’s revenue 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, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

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.