Tandem Diabetes Care (NASDAQ:TNDM) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note released on Friday, Benzinga reports. Piper Sandler currently has a $55.00 price objective on the medical device company’s stock, up from their previous price objective of $50.00.

Other analysts also recently issued research reports about the company. Leerink Partnrs upgraded Tandem Diabetes Care from a market perform rating to an outperform rating in a research note on Thursday, April 25th. Barclays boosted their price objective on shares of Tandem Diabetes Care from $39.00 to $55.00 and gave the stock an overweight rating in a research note on Monday, May 6th. StockNews.com upgraded shares of Tandem Diabetes Care from a sell rating to a hold rating in a research note on Friday, April 19th. Oppenheimer boosted their target price on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an outperform rating in a research report on Monday, June 10th. Finally, Citigroup raised Tandem Diabetes Care from a neutral rating to a buy rating and raised their target price for the company from $40.00 to $57.00 in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $52.75.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $41.67 on Friday. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $53.69. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -19.20 and a beta of 1.28. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43. The stock’s fifty day simple moving average is $44.18 and its 200-day simple moving average is $36.21.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 39.52%. The business had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. During the same period in the prior year, the firm earned ($0.30) earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts predict that Tandem Diabetes Care will post -1.71 earnings per share for the current fiscal year.

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Dick Allen sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.68, for a total value of $258,400.00. Following the transaction, the director now directly owns 24,396 shares in the company, valued at $1,260,785.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased 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 valued at $172,000 after buying an additional 431 shares in the last quarter. MN Wealth Advisors LLC grew its holdings 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. MCF Advisors LLC increased its position in Tandem Diabetes Care by 79.3% in the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after acquiring an additional 445 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Tandem Diabetes Care by 8.6% in the fourth quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company’s stock worth $175,000 after acquiring an additional 467 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Tandem Diabetes Care by 29.2% during the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock worth $93,000 after purchasing an additional 522 shares in the last quarter.

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.