Tandem Diabetes Care (NASDAQ:TNDM) Given New $14.00 Price Target at Wells Fargo & Company

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective hoisted by Wells Fargo & Company from $13.00 to $14.00 in a research report report published on Friday,Benzinga reports. They currently have an equal weight rating on the medical device company’s stock.

TNDM has been the topic of several other research reports. Lake Street Capital downgraded Tandem Diabetes Care from a “buy” rating to a “hold” rating and cut their price objective for the company from $75.00 to $12.00 in a report on Monday, August 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $24.00 target price on shares of Tandem Diabetes Care in a research note on Monday, September 29th. Piper Sandler lowered shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $30.00 to $14.00 in a report on Thursday, August 7th. UBS Group reduced their price target on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Barclays lowered their price target on Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.25.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM traded up $2.93 on Friday, reaching $16.26. The stock had a trading volume of 6,034,565 shares, compared to its average volume of 1,753,841. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88. The firm has a fifty day moving average of $13.68 and a two-hundred day moving average of $16.20. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $38.28. The company has a market cap of $1.10 billion, a P/E ratio of -5.33 and a beta of 1.51.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, hitting the consensus estimate of ($0.31). The business had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 68.85%. Tandem Diabetes Care’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) earnings per share. Tandem Diabetes Care has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John F. Sheridan purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average cost of $10.23 per share, with a total value of $102,300.00. Following the completion of the purchase, the chief executive officer directly owned 106,327 shares in the company, valued at approximately $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. grew its position in shares of Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 525 shares during the period. Amalgamated Bank lifted its holdings in shares of Tandem Diabetes Care by 3.5% in the third quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock worth $238,000 after buying an additional 657 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Tandem Diabetes Care by 8.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,101 shares of the medical device company’s stock valued at $319,000 after purchasing an additional 1,384 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Tandem Diabetes Care by 10.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,299 shares of the medical device company’s stock valued at $285,000 after buying an additional 1,399 shares in the last quarter. Finally, State of Wyoming lifted its position in Tandem Diabetes Care by 49.1% during the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock valued at $86,000 after purchasing an additional 1,471 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.