Tandem Diabetes Care (NASDAQ:TNDM) Upgraded to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a neutral rating to an overweight rating in a research note issued to investors on Tuesday, MarketBeat reports. Piper Sandler currently has $33.00 price target on the medical device company’s stock, up from their previous price target of $21.00.

A number of other equities analysts have also recently commented on the company. Morgan Stanley lifted their price target on Tandem Diabetes Care from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. The Goldman Sachs Group reissued a “neutral” rating and set a $28.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, February 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, January 21st. Truist Financial reaffirmed a “hold” rating and issued a $27.00 target price (up from $24.00) on shares of Tandem Diabetes Care in a research note on Monday, February 23rd. Finally, Mizuho set a $22.00 price target on shares of Tandem Diabetes Care and gave the company a “neutral” rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.78.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $23.91 on Tuesday. The firm has a fifty day simple moving average of $21.32 and a two-hundred day simple moving average of $18.51. The company has a quick ratio of 2.02, a current ratio of 2.55 and a debt-to-equity ratio of 2.00. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $29.65. The company has a market capitalization of $1.63 billion, a PE ratio of -7.79 and a beta of 1.63.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $290.38 million for the quarter, compared to analysts’ expectations of $277.14 million. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. Research analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds have recently made changes to their positions in TNDM. Smartleaf Asset Management LLC lifted its stake in Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after acquiring an additional 593 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 1,470 shares during the period. Van ECK Associates Corp raised its holdings in Tandem Diabetes Care by 67.4% in the 4th quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock worth $75,000 after purchasing an additional 1,381 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Tandem Diabetes Care by 36.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after purchasing an additional 909 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Tandem Diabetes Care by 36.6% in the 4th quarter. Farther Finance Advisors LLC now owns 3,600 shares of the medical device company’s stock worth $79,000 after purchasing an additional 965 shares during the period.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.