Tandem Diabetes Care (NASDAQ:TNDM) Upgraded at Barclays

Key Points

• Barclays upgraded Tandem Diabetes Care to “hold,” while analyst sentiment remains mixed; MarketBeat reports a consensus “Hold” rating and an average price target of $27.18.
• Tandem shares opened at $15.84, down 2%, with the stock trading below its 50-day and 200-day moving averages and within a 52-week range of $12.26 to $29.65.
• The company’s latest quarterly results showed a smaller-than-expected loss of $0.31 per share and revenue of $254.56 million, up 5.8% year over year, though Tandem continued to report negative profitability metrics.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) was upgraded by equities researchers at Barclays to a "hold" rating in a research note issued on Wednesday, Zacks reports.

Several other brokerages have also commented on TNDM. Canaccord Genuity Group set a $40.00 price objective on Tandem Diabetes Care in a report on Friday, August 7th. William Blair began coverage on Tandem Diabetes Care in a research note on Friday, August 21st. They set an "outperform" rating on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Tandem Diabetes Care in a research report on Tuesday, September 8th. Zacks Research cut Tandem Diabetes Care from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 10th. Finally, UBS Group initiated coverage on Tandem Diabetes Care in a report on Tuesday, July 28th. They issued a "neutral" rating and a $18.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of "Hold" and an average target price of $27.18.

Tandem Diabetes Care Stock Down 2.0%

Shares of Tandem Diabetes Care stock opened at $15.84 on Wednesday. The firm's 50 day moving average price is $19.48 and its 200-day moving average price is $18.25. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62. Tandem Diabetes Care has a 52-week low of $12.26 and a 52-week high of $29.65. The company has a market cap of $1.10 billion, a P/E ratio of -17.03 and a beta of 1.66.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its earnings results on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.01. The company had revenue of $254.56 million during the quarter, compared to analysts' expectations of $254.99 million. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. Tandem Diabetes Care's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.78) earnings per share. On average, sell-side analysts predict that Tandem Diabetes Care will post -0.66 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. OP Asset Management Ltd acquired a new position in shares of Tandem Diabetes Care in the first quarter valued at about $35,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Tandem Diabetes Care during the second quarter worth about $33,000. Leonteq Securities AG boosted its position in Tandem Diabetes Care by 21.7% in the first quarter. Leonteq Securities AG now owns 9,501 shares of the medical device company's stock valued at $182,000 after buying an additional 1,695 shares during the last quarter. Prosperitas Financial LLC purchased a new stake in Tandem Diabetes Care in the second quarter valued at approximately $151,000. Finally, Pictet Asset Management Holding SA acquired a new position in Tandem Diabetes Care in the 1st quarter worth approximately $206,000.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company focused on developing and commercializing advanced insulin delivery systems for people with diabetes. The company's products are designed to work with continuous glucose monitoring (CGM) systems and digital health tools to help automate and personalize insulin therapy.

Tandem's product portfolio includes the t:slim X2 insulin pump, which features a rechargeable design and software that supports automated insulin delivery. The company also offers the t:slim X2 pump with Control-IQ technology, an algorithm designed to adjust insulin delivery based on CGM readings, and the compact Tandem Mobi pump.

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