Tandem Diabetes Care (NASDAQ:TNDM) Price Target Cut to $25.00 by Analysts at The Goldman Sachs Group

Tandem Diabetes Care (NASDAQ:TNDM) had its price target reduced by The Goldman Sachs Group from $28.00 to $25.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the medical device company’s stock.

Several other brokerages have also recently weighed in on TNDM. Piper Sandler upgraded Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $33.00 in a research report on Tuesday, March 17th. Barclays reiterated an “overweight” rating and issued a $56.00 price target on shares of Tandem Diabetes Care in a research report on Monday, February 23rd. Lake Street Capital upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Monday, February 23rd. TD Cowen started coverage on Tandem Diabetes Care in a research report on Tuesday, January 27th. They set a “buy” rating and a $25.00 target price for the company. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $25.00 target price (up from $18.00) on shares of Tandem Diabetes Care in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.06.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $19.68 on Thursday. The stock has a market cap of $1.35 billion, a PE ratio of -6.41 and a beta of 1.74. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $29.65. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.02 and a current ratio of 2.55. The stock has a fifty day moving average of $21.53 and a 200-day moving average of $19.47.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $290.38 million during 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 firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 earnings per share. Equities research analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Tandem Diabetes Care by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after buying an additional 278,042 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after purchasing an additional 991,649 shares during the last quarter. Paradice Investment Management LLC lifted its stake in Tandem Diabetes Care by 24.3% during the third quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock worth $26,665,000 after purchasing an additional 429,289 shares during the last quarter. Jennison Associates LLC lifted its stake in Tandem Diabetes Care by 42.3% during the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after purchasing an additional 601,260 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Tandem Diabetes Care during the third quarter worth about $22,706,000.

About Tandem Diabetes Care

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.