Tandem Diabetes Care (NASDAQ:TNDM) Price Target Cut to $25.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has lowered its price target for Tandem Diabetes Care from $45.00 to $25.00, indicating a potential upside of 120.24% from the company's recent close.
• Several research analysts hold varying opinions on Tandem's stock, with ratings ranging from "sell" to "buy" and a consensus rating of "Hold" with an average price target of $26.43.
• Tandem Diabetes Care reported a quarterly loss of ($0.48) earnings per share, slightly missing expectations, while revenue increased by 8.5% year-over-year.

Tandem Diabetes Care (NASDAQ:TNDM - Free Report) had its price target lowered by Royal Bank Of Canada from $45.00 to $25.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the medical device company's stock.

A number of other research firms also recently issued reports on TNDM. Mizuho assumed coverage on shares of Tandem Diabetes Care in a report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 target price for the company. Piper Sandler cut shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $30.00 to $14.00 in a research report on Thursday. Wells Fargo & Company reduced their target price on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird reduced their price target on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.67.

Tandem Diabetes Care Stock Down 10.0%

Shares of NASDAQ TNDM traded down $1.12 during mid-day trading on Thursday, reaching $10.11. The company had a trading volume of 3,127,767 shares, compared to its average volume of 1,690,951. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. The stock has a market cap of $683.12 million, a P/E ratio of -3.27 and a beta of 1.46. Tandem Diabetes Care has a 52-week low of $9.98 and a 52-week high of $47.60. The firm has a 50 day simple moving average of $17.56 and a two-hundred day simple moving average of $21.36.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.08). Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%. The firm had revenue of $240.68 million during the quarter, compared to analyst estimates of $238.39 million. During the same quarter last year, the business posted ($0.47) EPS. The firm's revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several large investors have recently bought and sold shares of the business. Cerity Partners LLC grew its position in Tandem Diabetes Care by 32.2% in the first quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company's stock valued at $1,456,000 after purchasing an additional 18,529 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Tandem Diabetes Care by 25.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company's stock valued at $6,103,000 after buying an additional 64,467 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Tandem Diabetes Care by 17.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company's stock valued at $1,394,000 after purchasing an additional 11,048 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Tandem Diabetes Care by 27.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock valued at $737,000 after purchasing an additional 8,210 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Tandem Diabetes Care by 763.3% during the 1st quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock worth $808,000 after acquiring an additional 37,303 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.