Tandem Diabetes Care (NASDAQ:TNDM) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $46.00 price target on the medical device company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 10.10% from the company’s current price.

Several other research firms have also weighed in on TNDM. Robert W. Baird boosted their target price on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. Canaccord Genuity Group began coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Oppenheimer increased 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, Piper Sandler restated an “overweight” rating and set a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tandem Diabetes Care has an average rating of “Moderate Buy” and a consensus target price of $55.13.

Tandem Diabetes Care Trading Up 3.3 %

NASDAQ TNDM opened at $41.78 on Friday. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -19.25 and a beta of 1.33. 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 12 month low of $13.82 and a 12 month high of $53.69. The company’s fifty day moving average price is $42.11 and its two-hundred day moving average price is $41.60.

Tandem Diabetes Care (NASDAQ:TNDM) last released its 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. 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 last year, the business posted ($0.30) EPS. Tandem Diabetes Care’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, 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

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Tandem Diabetes Care by 11.2% in the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock valued at $172,000 after acquiring an additional 431 shares in the last quarter. MN Wealth Advisors LLC increased its position in shares of Tandem Diabetes Care by 3.1% during the 2nd quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock valued at $593,000 after purchasing an additional 440 shares during the period. MCF Advisors LLC increased its position in shares of Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 445 shares during the period. Signaturefd LLC raised its stake in shares of Tandem Diabetes Care by 29.2% in the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock worth $93,000 after buying an additional 522 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tandem Diabetes Care by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock valued at $603,000 after buying an additional 592 shares during the period.

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.