The Goldman Sachs Group Lowers Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $25.00

Key Points

• Goldman Sachs lowered its price target on Tandem Diabetes Care from $28 to $25 and kept a "neutral" rating, implying roughly a 27% upside from the current share price.
• Analyst coverage is mixed: the consensus rating is "Hold" with an average target of $29.06, while individual targets range widely (e.g., Lake Street $50, Canaccord $35).
• Tandem beat the latest quarter's estimates—EPS ($0.01) vs. ($0.05) expected and revenue $290.4M (+15.1% YoY)—but remains unprofitable with negative margins and analysts forecast -1.68 EPS for the fiscal year.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its target price cut by The Goldman Sachs Group from $28.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the medical device company's stock. The Goldman Sachs Group's price target would indicate a potential upside of 26.96% from the company's current price.

Other research analysts have also issued reports about the company. TD Cowen assumed coverage on Tandem Diabetes Care in a research report on Tuesday, January 27th. They issued a "buy" rating and a $25.00 target price on the stock. Canaccord Genuity Group set a $35.00 target price on Tandem Diabetes Care and gave the stock a "buy" rating in a research report on Wednesday, December 17th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $25.00 target price (up from $18.00) on shares of Tandem Diabetes Care in a research report on Friday, January 9th. UBS Group reaffirmed a "neutral" rating and issued a $22.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, February 20th. Finally, Lake Street Capital raised Tandem Diabetes Care from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $29.06.

Tandem Diabetes Care Trading Up 1.8%

Shares of TNDM traded up $0.34 during trading hours on Thursday, hitting $19.69. The stock had a trading volume of 327,537 shares, compared to its average volume of 1,962,978. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.02 and a current ratio of 2.55. The firm has a market cap of $1.35 billion, a P/E ratio of -6.44 and a beta of 1.74. The company's fifty day simple moving average is $21.53 and its 200 day simple moving average is $19.47. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. The business had revenue of $290.38 million for the quarter, compared to analyst estimates of $277.14 million. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The business's quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company posted $0.01 EPS. Equities research analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TNDM. Freestone Grove Partners LP purchased a new position in Tandem Diabetes Care in the third quarter valued at about $22,706,000. Assenagon Asset Management S.A. purchased a new position in Tandem Diabetes Care in the fourth quarter valued at about $26,988,000. First Light Asset Management LLC acquired a new stake in shares of Tandem Diabetes Care during the fourth quarter valued at about $23,947,000. BNP Paribas Financial Markets grew its stake in shares of Tandem Diabetes Care by 468.5% during the fourth quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company's stock valued at $27,442,000 after acquiring an additional 1,028,866 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in shares of Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company's stock valued at $44,811,000 after acquiring an additional 991,649 shares in the last quarter.

About Tandem Diabetes Care

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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