Tandem Diabetes Care (NASDAQ:TNDM) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report issued on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $65.00 target price on the medical device company’s stock.

Several other research firms also recently weighed in on TNDM. Piper Sandler reiterated an overweight rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Oppenheimer increased their target price on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an outperform rating in a research note on Monday, June 10th. Canaccord Genuity Group started coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a buy rating and a $57.00 price target on the stock. Barclays lifted their price objective on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an overweight rating in a report on Monday, August 5th. Finally, Morgan Stanley reiterated an equal weight rating and set a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of Moderate Buy and an average target price of $55.13.

Tandem Diabetes Care Trading Up 3.3 %

Shares of Tandem Diabetes Care stock opened at $41.78 on Wednesday. Tandem Diabetes Care has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -19.25 and a beta of 1.33. The stock has a 50 day moving average of $42.11 and a 200 day moving average of $41.52.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data 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. The firm had revenue of $221.90 million during the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company earned ($0.30) EPS. As a group, research analysts predict that Tandem Diabetes Care will post -1.76 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds have recently bought and sold shares of TNDM. ORG Partners LLC acquired a new stake in Tandem Diabetes Care in the second quarter valued at $31,000. Headlands Technologies LLC acquired a new stake in Tandem Diabetes Care in the 1st quarter valued at about $35,000. MCF Advisors LLC increased its holdings in Tandem Diabetes Care by 79.3% during 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. Daiwa Securities Group Inc. purchased a new position in Tandem Diabetes Care during the 2nd quarter valued at about $86,000. Finally, Signaturefd LLC raised its position 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 worth $93,000 after acquiring an additional 522 shares during the last quarter.

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.