Tandem Diabetes Care (NASDAQ:TNDM) Receives New Coverage from Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note issued to investors on Friday morning, Marketbeat reports. The firm issued a neutral rating and a $46.00 price objective on the medical device company’s stock.

A number of other brokerages have also issued reports on TNDM. Canaccord Genuity Group began coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a buy rating and a $57.00 target price on the stock. Barclays upped their target price on Tandem Diabetes Care from $55.00 to $58.00 and gave the company an overweight rating in a research report on Monday, August 5th. Oppenheimer upped their target price on Tandem Diabetes Care from $47.00 to $58.00 and gave the company an outperform rating in a research report on Monday, June 10th. Wells Fargo & Company upped their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group began coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a buy rating and a $57.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $55.13.

Tandem Diabetes Care Stock Up 3.3 %

NASDAQ TNDM traded up $1.32 on Friday, reaching $41.78. The company had a trading volume of 906,403 shares, compared to its average volume of 1,202,258. The firm has a market capitalization of $2.73 billion, a PE ratio of -19.25 and a beta of 1.33. Tandem Diabetes Care has a 1 year low of $13.82 and a 1 year high of $53.69. The firm has a 50-day moving average of $42.11 and a 200-day moving average of $41.52. 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 released its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. The firm had revenue of $221.90 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) EPS. On average, 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

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Tandem Diabetes Care by 0.4% in the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after buying an additional 30,664 shares during the period. Jennison Associates LLC increased its position in Tandem Diabetes Care by 98.1% in the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after buying an additional 1,265,534 shares during the period. Fred Alger Management LLC increased its position in Tandem Diabetes Care by 45.2% in the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after buying an additional 677,036 shares during the period. Bellevue Group AG increased its position in Tandem Diabetes Care by 2.0% in the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after buying an additional 39,571 shares during the period. Finally, Brown Capital Management LLC grew its stake in shares of Tandem Diabetes Care by 29.9% in the first quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock worth $33,801,000 after purchasing an additional 219,940 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.