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

The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $46.00 price target on the medical device company’s stock.

A number of other equities analysts have also recently weighed in on TNDM. Robert W. Baird upped their price objective on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Morgan Stanley reiterated an equal weight rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Barclays increased their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an overweight rating in a research report on Monday, August 5th. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a buy rating and a $57.00 target price for the company. Finally, Oppenheimer upped their price objective on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the company an outperform rating in a report on Monday, June 10th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $55.13.

Tandem Diabetes Care Stock Up 3.3 %

TNDM stock opened at $41.78 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38. The firm’s fifty day simple moving average is $42.11 and its 200-day simple moving average is $41.66. Tandem Diabetes Care has a 12 month low of $13.82 and a 12 month high of $53.69. The company has a market capitalization of $2.73 billion, a P/E ratio of -19.25 and a beta of 1.33.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.07. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The firm had revenue of $221.90 million during the quarter, compared to analysts’ expectations of $205.63 million. During the same period in the previous year, the business posted ($0.30) EPS. The business’s revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Tandem Diabetes Care will post -1.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of Tandem Diabetes Care by 1,481.5% in the first 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 during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Tandem Diabetes Care in the first quarter valued at approximately $540,000. Vanguard Group Inc. raised its holdings 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 valued at $249,732,000 after acquiring an additional 30,664 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Tandem Diabetes Care in the first quarter valued at approximately $5,227,000. Finally, Quantbot Technologies LP acquired a new stake in Tandem Diabetes Care in the first quarter valued at approximately $710,000.

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.