Tandem Diabetes Care (NASDAQ:TNDM) Now Covered by Analysts at Oppenheimer

Key Points

• Oppenheimer initiated coverage on Tandem Diabetes Care (NASDAQ:TNDM), setting an "outperform" rating with a price target of $22.00, indicating a potential upside of 77.06% from the stock's previous close.
• Analysts from various firms have expressed mixed views, with Piper Sandler downgrading the stock to "neutral" and reducing the price target from $30.00 to $14.00, while Citigroup raised theirs to $11.00.
• After missing earnings estimates with a reported EPS of ($0.48) in the latest quarter, Tandem Diabetes Care has a consensus rating of "Hold" and an average price target of $22.44 from analysts.

Oppenheimer initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $22.00 price target on the medical device company's stock. Oppenheimer's price objective points to a potential upside of 77.06% from the stock's previous close.

Several other research analysts have also recently weighed in on the company. Piper Sandler cut 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, August 7th. Citigroup upped their price target on Tandem Diabetes Care from $10.35 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Lake Street Capital downgraded Tandem Diabetes Care from a "buy" rating to a "hold" rating and cut their price target for the stock from $75.00 to $12.00 in a report on Monday, August 11th. Barclays cut their target price on Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, Truist Financial started coverage on Tandem Diabetes Care in a research note on Monday, June 16th. They set a "hold" rating and a $24.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $22.44.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $12.43 on Monday. The company has a market cap of $839.56 million, a PE ratio of -4.05 and a beta of 1.45. 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 50-day moving average price of $14.07 and a 200-day moving average price of $18.09. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $47.60.

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

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, CFO Leigh Vosseller bought 13,720 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the transaction, the chief financial officer directly owned 25,580 shares in the company, valued at $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John F. Sheridan acquired 10,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the acquisition, the chief executive officer owned 106,327 shares of the company's stock, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors have recently made changes to their positions in the company. Assetmark Inc. grew its position in shares of Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after buying an additional 525 shares during the last quarter. NBC Securities Inc. purchased a new position in Tandem Diabetes Care during the first quarter worth about $37,000. CWM LLC raised its holdings in Tandem Diabetes Care by 262.6% in the second quarter. CWM LLC now owns 2,796 shares of the medical device company's stock valued at $52,000 after acquiring an additional 2,025 shares in the last quarter. Brooklyn Investment Group grew its position in Tandem Diabetes Care by 417.8% in the 1st quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock valued at $65,000 after buying an additional 2,741 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Tandem Diabetes Care by 186.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company's stock valued at $78,000 after purchasing an additional 2,717 shares during the period.

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.

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