TD Cowen Initiates Coverage on Tandem Diabetes Care (NASDAQ:TNDM)

Investment analysts at TD Cowen started coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $25.00 price target on the medical device company’s stock. TD Cowen’s price target would indicate a potential upside of 22.58% from the company’s current price.

TNDM has been the topic of several other reports. Stifel Nicolaus started coverage on shares of Tandem Diabetes Care in a research report on Tuesday, October 21st. They set a “hold” rating and a $15.00 target price on the stock. Mizuho upped their target price on shares of Tandem Diabetes Care from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Sanford C. Bernstein reiterated a “market perform” rating and set a $25.00 price target (up from $18.00) on shares of Tandem Diabetes Care in a research report on Friday, January 9th. Robert W. Baird set a $30.00 price target on Tandem Diabetes Care and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.06.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ:TNDM traded up $0.20 during trading on Tuesday, reaching $20.40. The company had a trading volume of 181,040 shares, compared to its average volume of 1,259,437. The stock’s fifty day moving average price is $21.30 and its 200 day moving average price is $16.51. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $37.93. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -6.68 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, hitting the consensus estimate of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The company had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. During the same quarter last year, the business earned ($0.35) EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its stake in Tandem Diabetes Care by 54.0% during the second quarter. Acadian Asset Management LLC now owns 358,516 shares of the medical device company’s stock valued at $6,676,000 after acquiring an additional 125,644 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Tandem Diabetes Care by 9.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 39,660 shares of the medical device company’s stock worth $739,000 after buying an additional 3,269 shares in the last quarter. Sector Gamma AS grew its stake in Tandem Diabetes Care by 28.0% during the third quarter. Sector Gamma AS now owns 269,542 shares of the medical device company’s stock worth $3,272,000 after buying an additional 59,019 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Tandem Diabetes Care by 6.3% in the second quarter. Champlain Investment Partners LLC now owns 1,455,123 shares of the medical device company’s stock valued at $27,123,000 after acquiring an additional 86,235 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Tandem Diabetes Care by 122.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,143 shares of the medical device company’s stock worth $488,000 after acquiring an additional 14,377 shares in the last quarter.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.