Tandem Diabetes Care (NASDAQ:TNDM) Rating Reiterated by Morgan Stanley

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “equal weight” rating reiterated by research analysts at Morgan Stanley in a report issued on Monday, Benzinga reports. They presently have a $45.00 target price on the medical device company’s stock. Morgan Stanley’s price target would indicate a potential downside of 0.97% from the company’s previous close.

A number of other brokerages also recently issued reports on TNDM. Robert W. Baird increased their price target on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Barclays raised their price target 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. Piper Sandler restated an “overweight” rating and set a $55.00 price target (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Oppenheimer increased their price objective on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Finally, Wells Fargo & Company boosted their target price 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. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average target price of $54.36.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $45.44 on Monday. The firm’s 50 day moving average is $42.19 and its 200 day moving average is $40.97. The stock has a market capitalization of $2.93 billion, a P/E ratio of -20.94 and a beta of 1.32. Tandem Diabetes Care has a 12 month low of $13.82 and a 12 month high of $53.69. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.07. The firm had revenue of $221.90 million for 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 business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.30) earnings per share. On average, sell-side analysts anticipate that Tandem Diabetes Care will post -1.76 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

Hedge funds and other institutional investors have recently bought and sold shares of the company. ORG Partners LLC purchased a new position in shares of Tandem Diabetes Care during the second quarter worth approximately $31,000. Headlands Technologies LLC purchased a new position in Tandem Diabetes Care in the 1st quarter worth $35,000. MCF Advisors LLC lifted its stake in Tandem Diabetes Care by 79.3% in the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Tandem Diabetes Care during the second quarter valued at about $86,000. Finally, Signaturefd LLC grew its stake in shares of Tandem Diabetes Care by 29.2% during the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after buying 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.