Tandem Diabetes Care (NASDAQ:TNDM) Earns “Equal Weight” Rating from Morgan Stanley

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “equal weight” rating reaffirmed by research analysts at Morgan Stanley in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $45.00 price target on the medical device company’s stock. Morgan Stanley’s price target points to a potential downside of 2.74% from the company’s current price.

Other analysts also recently issued reports about the stock. Oppenheimer boosted their target price on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price target on the stock. Barclays raised their price objective on Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Piper Sandler restated an “overweight” rating and issued a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Finally, Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They set a “buy” rating and a $57.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.36.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM traded up $1.64 during mid-day trading on Monday, reaching $46.27. 688,782 shares of the company traded hands, compared to its average volume of 1,630,275. Tandem Diabetes Care has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The firm has a market cap of $2.99 billion, a PE ratio of -21.21 and a beta of 1.32. The stock has a fifty day simple moving average of $42.26 and a 200-day simple moving average of $40.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The company had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. During the same quarter in the previous year, the business earned ($0.30) EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that Tandem Diabetes Care will post -1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Tandem Diabetes Care by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,741 shares of the medical device company’s stock worth $11,736,000 after acquiring an additional 29,730 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Tandem Diabetes Care by 55.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 33,013 shares of the medical device company’s stock worth $977,000 after purchasing an additional 11,789 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Tandem Diabetes Care by 222.0% during the 4th quarter. US Bancorp DE now owns 36,373 shares of the medical device company’s stock valued at $1,076,000 after buying an additional 25,077 shares during the last quarter. Commerce Bank bought a new stake in shares of Tandem Diabetes Care in the 4th quarter valued at approximately $460,000. Finally, Orion Portfolio Solutions LLC acquired a new position in Tandem Diabetes Care in the fourth quarter worth approximately $1,041,000.

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.