Tandem Diabetes Care (NASDAQ:TNDM) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report released on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $65.00 price objective on the medical device company’s stock.

Several other equities research analysts have also recently issued reports on the company. Robert W. Baird raised their price objective on Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Morgan Stanley restated an equal weight rating and issued a $45.00 price target on shares of Tandem Diabetes Care in a report on Monday, September 23rd. UBS Group upgraded shares of Tandem Diabetes Care to a hold rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an overweight rating in a report on Friday, August 2nd. Finally, Piper Sandler reaffirmed an overweight rating and set a $55.00 price target (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Tandem Diabetes Care presently has a consensus rating of Moderate Buy and a consensus price target of $55.13.

Tandem Diabetes Care Trading Up 3.3 %

Tandem Diabetes Care stock opened at $41.78 on Wednesday. The stock has a 50-day moving average price of $42.11 and a 200 day moving average price of $41.52. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $53.69. The stock has a market cap of $2.73 billion, a PE ratio of -19.25 and a beta of 1.33. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results 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. The business had revenue of $221.90 million during the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. Equities research analysts predict that Tandem Diabetes Care will post -1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of institutional investors have recently added to or reduced their stakes in TNDM. KBC Group NV increased its position in shares of Tandem Diabetes Care by 256.1% during the fourth quarter. KBC Group NV now owns 239,944 shares of the medical device company’s stock worth $7,098,000 after acquiring an additional 172,570 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Tandem Diabetes Care by 1,481.5% in the 1st quarter. BNP Paribas Financial Markets now owns 145,812 shares of the medical device company’s stock valued at $5,163,000 after purchasing an additional 136,592 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Tandem Diabetes Care during the 1st quarter valued at approximately $540,000. Vanguard Group Inc. boosted its stake in shares of Tandem Diabetes Care by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after buying an additional 30,664 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $5,227,000.

About Tandem Diabetes Care

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.