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

Analysts at Truist Financial assumed coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a "hold" rating and a $24.00 price target on the medical device company's stock. Truist Financial's price objective would indicate a potential upside of 15.61% from the company's current price.

Other analysts also recently issued reports about the stock. Wells Fargo & Company lowered 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 report on Thursday, May 1st. Piper Sandler cut their price target on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Citigroup increased their price objective on shares of Tandem Diabetes Care from $20.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group upped their target price on Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Mizuho began coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price target for the company. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Tandem Diabetes Care has a consensus rating of "Hold" and a consensus price target of $33.43.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $20.76 on Monday. The stock's fifty day simple moving average is $19.94 and its 200 day simple moving average is $26.47. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $1.38 billion, a PE ratio of -10.76 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.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. During the same quarter last year, the company earned ($0.65) EPS. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. On average, research analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds have recently modified their holdings of TNDM. Sessa Capital IM L.P. bought a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $85,574,000. Hood River Capital Management LLC bought a new stake in Tandem Diabetes Care in the 4th quarter valued at $46,035,000. Jacobs Levy Equity Management Inc. grew its holdings in Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock valued at $59,830,000 after buying an additional 1,086,337 shares in the last quarter. Brown Advisory Inc. bought a new position in Tandem Diabetes Care during the 4th quarter worth $32,889,000. Finally, GW&K Investment Management LLC lifted its holdings in shares of Tandem Diabetes Care by 34.9% during the first quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock worth $54,874,000 after buying an additional 740,499 shares in 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.

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