Tandem Diabetes Care (NASDAQ:TNDM) Coverage Initiated at UBS Group

Key Points

• UBS initiated coverage of Tandem Diabetes Care with a “neutral” rating and an $18 price target, implying roughly 0.22% upside from the prior close.
• Analyst sentiment is broadly cautious: the stock has an average “Hold” rating and a consensus price target of $28.73, though estimates range from $15.50 to $31.00.
• Tandem shares rose 4.6% to $17.96. The company recently exceeded quarterly earnings and revenue expectations, reporting an adjusted loss of $0.30 per share and $247.2 million in revenue, up 5.5% year over year.

Stock analysts at UBS Group started coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) in a research note issued on Tuesday. The firm set a "neutral" rating and a $18.00 price target on the medical device company's stock. UBS Group's target price indicates a potential upside of 0.22% from the stock's previous close.

A number of other research analysts have also weighed in on TNDM. Truist Financial reaffirmed a "buy" rating and set a $31.00 price objective (down from $35.00) on shares of Tandem Diabetes Care in a research report on Monday, May 11th. Citigroup reissued a "neutral" rating and issued a $17.00 target price (down from $22.00) on shares of Tandem Diabetes Care in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Tandem Diabetes Care in a report on Tuesday, June 23rd. They set a "hold" rating and a $15.50 price target for the company. The Goldman Sachs Group set a $21.00 price target on Tandem Diabetes Care in a research report on Wednesday, May 27th. Finally, Bank of America dropped their price target on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued 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, the stock presently has an average rating of "Hold" and a consensus price target of $28.73.

Tandem Diabetes Care Stock Up 4.6%

NASDAQ:TNDM traded up $0.79 during mid-day trading on Tuesday, hitting $17.96. 86,200 shares of the company's stock were exchanged, compared to its average volume of 2,106,367. The company has a market cap of $1.23 billion, a PE ratio of -12.80 and a beta of 1.58. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $29.65. The business has a fifty day moving average price of $16.21 and a 200 day moving average price of $18.99.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced 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. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The business had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. During the same quarter last year, the firm earned ($0.66) earnings per share. The business's revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts predict that Tandem Diabetes Care will post -0.72 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Tandem Diabetes Care by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company's stock valued at $161,363,000 after acquiring an additional 278,042 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Tandem Diabetes Care by 42.3% during the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company's stock valued at $44,430,000 after purchasing an additional 601,260 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Tandem Diabetes Care during the 4th quarter valued at about $972,000. First Light Asset Management LLC increased its position in shares of Tandem Diabetes Care by 20.7% during the 1st quarter. First Light Asset Management LLC now owns 1,314,715 shares of the medical device company's stock valued at $25,203,000 after purchasing an additional 225,222 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Tandem Diabetes Care by 27.5% in the fourth quarter. Royce & Associates LP now owns 650,250 shares of the medical device company's stock worth $14,292,000 after buying an additional 140,250 shares during the last quarter.

Tandem Diabetes Care Company Profile

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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