Tandem Diabetes Care’s (TNDM) Hold Rating Reaffirmed at Truist Financial

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “hold” rating reissued by research analysts at Truist Financial in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $17.00 target price on the medical device company’s stock, up from their previous target price of $16.00. Truist Financial’s price objective would suggest a potential upside of 7.70% from the company’s current price.

TNDM has been the subject of a number of other reports. Wells Fargo & Company upped their target price on Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Wednesday, October 8th. Oppenheimer initiated coverage on shares of Tandem Diabetes Care in a research report on Monday, September 8th. They issued an “outperform” rating and a $22.00 target price for the company. Barclays cut their price target on shares of Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Finally, Citigroup reissued a “neutral” rating and issued a $15.00 price objective (up from $11.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 7th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $21.31.

Tandem Diabetes Care Stock Performance

TNDM traded down $0.48 on Monday, reaching $15.79. The company had a trading volume of 1,185,495 shares, compared to its average volume of 1,770,235. The stock has a market cap of $1.07 billion, a P/E ratio of -5.17 and a beta of 1.51. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $38.28. The company’s fifty day moving average is $13.68 and its 200 day moving average is $16.20.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The company had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Tandem Diabetes Care has set its FY 2025 guidance at EPS. As a group, analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. increased its stake in shares of Tandem Diabetes Care by 42.9% in the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after buying an additional 525 shares during the period. CWM LLC increased its position in Tandem Diabetes Care by 262.6% in the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after acquiring an additional 2,025 shares during the period. CoreCap Advisors LLC raised its stake in shares of Tandem Diabetes Care by 270.3% during the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after acquiring an additional 3,468 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Tandem Diabetes Care by 417.8% during the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock worth $65,000 after purchasing an additional 2,741 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Tandem Diabetes Care by 186.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after purchasing an additional 2,717 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.