Bank of America Upgrades Tandem Diabetes Care (NASDAQ:TNDM) to “Neutral”

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued on Friday,Benzinga reports. The firm presently has a $30.00 price target on the medical device company’s stock, up from their previous price target of $15.00. Bank of America‘s price objective would indicate a potential upside of 61.99% from the company’s current price.

Several other research firms also recently commented on TNDM. Wall Street Zen raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays upped their price target on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Piper Sandler reiterated a “neutral” rating and set a $21.00 price objective (up previously from $14.00) on shares of Tandem Diabetes Care in a research note on Friday. Robert W. Baird set a $30.00 price objective on Tandem Diabetes Care and gave the company an “outperform” rating in a report on Tuesday, December 16th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $25.00 target price (up previously from $18.00) on shares of Tandem Diabetes Care in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Hold” and a consensus target price of $25.06.

Tandem Diabetes Care Stock Down 2.2%

Tandem Diabetes Care stock opened at $18.52 on Friday. The business’s 50-day simple moving average is $20.85 and its two-hundred day simple moving average is $16.95. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The company has a market cap of $1.26 billion, a PE ratio of -6.07 and a beta of 1.68. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $35.12.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, February 19th. The medical device company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $290.38 million during the quarter, compared to the consensus estimate of $277.14 million. Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. Equities analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LLC acquired a new position in shares of Tandem Diabetes Care during the fourth quarter valued at approximately $346,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Tandem Diabetes Care during the fourth quarter worth approximately $248,000. EP Wealth Advisors LLC acquired a new position in Tandem Diabetes Care in the 4th quarter valued at $219,000. Wellington Management Group LLP acquired a new position in Tandem Diabetes Care in the 4th quarter valued at $2,161,000. Finally, Man Group plc purchased a new position in Tandem Diabetes Care in the 4th quarter valued at $281,000.

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.