Tandem Diabetes Care (NASDAQ:TNDM) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $65.00 price target on the medical device company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 58.27% from the stock’s current price.

A number of other research analysts have also weighed in on TNDM. Robert W. Baird raised their price objective on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays increased their price target on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Oppenheimer upped their price target on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.07.

Tandem Diabetes Care Price Performance

TNDM stock opened at $41.07 on Wednesday. The stock has a market cap of $2.69 billion, a PE ratio of -18.93 and a beta of 1.32. 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 has a one year low of $13.82 and a one year high of $53.69. The firm has a 50 day simple moving average of $42.10 and a two-hundred day simple moving average of $41.46.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.07. The company had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. Tandem Diabetes Care’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.30) EPS. On average, analysts predict that Tandem Diabetes Care will post -1.76 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors have recently bought and sold shares of TNDM. Creative Planning lifted its stake in shares of Tandem Diabetes Care by 40.8% in the second quarter. Creative Planning now owns 11,935 shares of the medical device company’s stock worth $481,000 after buying an additional 3,461 shares in the last quarter. Algert Global LLC lifted its stake in Tandem Diabetes Care by 15.7% in the 2nd quarter. Algert Global LLC now owns 45,263 shares of the medical device company’s stock worth $1,824,000 after purchasing an additional 6,150 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Tandem Diabetes Care by 106.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 77,833 shares of the medical device company’s stock worth $3,136,000 after purchasing an additional 40,128 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Tandem Diabetes Care by 310.2% in the second quarter. The Manufacturers Life Insurance Company now owns 35,980 shares of the medical device company’s stock valued at $1,450,000 after purchasing an additional 27,208 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Tandem Diabetes Care during the second quarter worth approximately $325,000.

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.