Tandem Diabetes Care (NASDAQ:TNDM) Now Covered by 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 assumed coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM - Free Report) in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $22.00 price target on the medical device company's stock.

Several other equities analysts have also recently issued reports on the company. Lake Street Capital cut Tandem Diabetes Care from a "buy" rating to a "hold" rating and decreased their price target for the company from $75.00 to $12.00 in a report on Monday, August 11th. Piper Sandler cut Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $30.00 to $14.00 in a report on Thursday, August 7th. UBS Group decreased their price target on Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Wall Street Zen cut Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Finally, Barclays decreased their price target on Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $22.44.

Tandem Diabetes Care Price Performance

Shares of TNDM stock traded down $0.52 during trading hours on Monday, hitting $12.27. 2,114,656 shares of the company's stock were exchanged, compared to its average volume of 1,771,957. The stock's 50-day moving average is $13.58 and its 200-day moving average is $17.61. The company has a debt-to-equity ratio of 2.32, a current ratio of 2.44 and a quick ratio of 1.88. The stock has a market cap of $829.08 million, a price-to-earnings ratio of -3.97 and a beta of 1.45. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week 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 the consensus estimate 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 return on equity of 65.40% and a negative net margin of 20.51%.Tandem Diabetes Care's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.47) EPS. As a group, research analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current year.

Insider Activity

In related news, CFO Leigh Vosseller bought 13,720 shares of the business's stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $10.89 per share, with a total value of $149,410.80. Following the completion of the purchase, the chief financial officer owned 25,580 shares of the company's stock, valued at $278,566.20. This represents a 115.68% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John F. Sheridan acquired 10,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were 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 directly owned 106,327 shares in the company, valued at $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors have recently modified their holdings of the business. Cerity Partners LLC lifted its holdings in shares of Tandem Diabetes Care by 32.2% during the 1st 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. lifted its holdings in shares of Tandem Diabetes Care by 25.4% during 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 purchasing an additional 64,467 shares in the last quarter. Oppenheimer Asset Management Inc. lifted 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 in the last quarter. Janney Montgomery Scott LLC lifted 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 in the last quarter. Finally, GAMMA Investing LLC raised its position in Tandem Diabetes Care by 763.3% in the 1st quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock valued at $808,000 after buying an additional 37,303 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.