Investment analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) in a research note issued to investors on Tuesday. The firm set a “hold” rating and a $15.50 price target on the medical device company’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 8.09% from the company’s current price.
TNDM has been the topic of several other research reports. Morgan Stanley increased their price objective on shares of Tandem Diabetes Care from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Citigroup reaffirmed a “neutral” rating and set a $17.00 target price (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th. Wells Fargo & Company upgraded shares of Tandem Diabetes Care from a “buy” rating to an “overweight” rating and increased their price target for the stock from $21.00 to $27.00 in a research report on Monday, June 1st. Lake Street Capital upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Monday, February 23rd. Finally, Rothschild & Co Redburn set a $45.00 price objective on shares of Tandem Diabetes Care in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.12.
Get Our Latest Analysis on TNDM
Tandem Diabetes Care Stock Performance
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last posted its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.16. The company had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.Tandem Diabetes Care’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.66) earnings per share. As a group, sell-side analysts anticipate that Tandem Diabetes Care will post -0.74 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its stake in Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after acquiring an additional 593 shares during the period. OP Asset Management Ltd bought a new position in shares of Tandem Diabetes Care in the first quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Tandem Diabetes Care by 200.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares during the period. Van ECK Associates Corp increased its stake in shares of Tandem Diabetes Care by 67.4% in the fourth quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock worth $75,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Tandem Diabetes Care by 36.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 909 shares during the period.
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.
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