Truist Financial Initiates Coverage on Tandem Diabetes Care (NASDAQ:TNDM)

Truist Financial initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM - Free Report) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage issued a hold rating and a $24.00 price objective on the medical device company's stock.

Several other research firms have also recently weighed in on TNDM. Mizuho assumed coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They set a "neutral" rating and a $20.00 target price on the stock. Barclays lowered their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company dropped their price objective on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Finally, Royal Bank Of Canada dropped their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $33.43.

Tandem Diabetes Care Trading Up 1.7%

Shares of NASDAQ:TNDM traded up $0.34 during mid-day trading on Monday, hitting $20.41. The stock had a trading volume of 845,489 shares, compared to its average volume of 1,500,377. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30. The company has a market cap of $1.36 billion, a PE ratio of -7.34 and a beta of 1.52. Tandem Diabetes Care has a 12-month low of $15.75 and a 12-month high of $48.24. The company's 50 day moving average is $20.12 and its 200-day moving average is $26.31.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The firm had revenue of $234.42 million during the quarter, compared to analysts' expectations of $220.19 million. Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The firm's revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.65) EPS. On average, sell-side analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. AlphaQuest LLC increased its stake in shares of Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after purchasing an additional 541 shares during the last quarter. Assetmark Inc. grew its stake in Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock valued at $34,000 after buying an additional 525 shares during the last quarter. NBC Securities Inc. acquired a new position in Tandem Diabetes Care in the 1st quarter valued at $37,000. Jones Financial Companies Lllp grew its stake in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock valued at $41,000 after buying an additional 748 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Tandem Diabetes Care by 163.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after buying an additional 1,101 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.