Tandem Diabetes Care (NASDAQ:TNDM) Coverage Initiated by Analysts at The Goldman Sachs Group

Research analysts at The Goldman Sachs Group began coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a note issued to investors on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $46.00 price target on the medical device company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 10.10% from the company’s current price.

A number of other equities research analysts have also commented on the company. Wells Fargo & Company raised their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Oppenheimer raised their price target on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. 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 target price for the company. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.13.

Tandem Diabetes Care Stock Up 3.3 %

TNDM stock opened at $41.78 on Friday. The company’s 50 day simple moving average is $42.11 and its 200-day simple moving average is $41.60. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week high of $53.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38. The firm has a market capitalization of $2.73 billion, a P/E ratio of -19.25 and a beta of 1.33.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.07. The company had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. As a group, equities research analysts anticipate that Tandem Diabetes Care will post -1.76 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC acquired a new stake in shares of Tandem Diabetes Care during the 2nd quarter worth about $31,000. Headlands Technologies LLC bought a new stake in Tandem Diabetes Care during the first quarter worth about $35,000. MCF Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after buying an additional 445 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Tandem Diabetes Care during the second quarter worth approximately $86,000. Finally, Signaturefd LLC raised its stake in shares of Tandem Diabetes Care by 29.2% in the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 522 shares during 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.