The Goldman Sachs Group Begins Coverage on Tandem Diabetes Care (NASDAQ:TNDM)

by · The Markets Daily

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

Other equities analysts have also recently issued reports about the stock. Piper Sandler reissued an overweight rating and issued a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Canaccord Genuity Group began coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a buy rating and a $57.00 price objective for the company. Robert W. Baird lifted 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 note on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada began coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They issued an outperform rating and a $65.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care presently has an average rating of Moderate Buy and an average target price of $55.13.

Check Out Our Latest Analysis on TNDM

Tandem Diabetes Care Stock Performance

TNDM opened at $41.78 on Friday. The stock 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 fifty day moving average of $42.11 and a 200 day moving average of $41.66. Tandem Diabetes Care has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05.

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

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB lifted its holdings in Tandem Diabetes Care by 25.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 22,000 shares of the medical device company’s stock valued at $933,000 after buying an additional 4,400 shares in the last quarter. Creative Planning lifted its holdings in Tandem Diabetes Care by 40.8% during the 2nd quarter. Creative Planning now owns 11,935 shares of the medical device company’s stock valued at $481,000 after buying an additional 3,461 shares in the last quarter. Algert Global LLC lifted its holdings in Tandem Diabetes Care by 15.7% during the 2nd quarter. Algert Global LLC now owns 45,263 shares of the medical device company’s stock valued at $1,824,000 after buying an additional 6,150 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in Tandem Diabetes Care by 106.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 77,833 shares of the medical device company’s stock valued at $3,136,000 after buying an additional 40,128 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Tandem Diabetes Care by 310.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,980 shares of the medical device company’s stock valued at $1,450,000 after buying an additional 27,208 shares in the last quarter.

About Tandem Diabetes Care

(Get Free Report)

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.

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