Tandem Diabetes Care’s (TNDM) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note published on Monday morning, Benzinga reports. They currently have a $45.00 price target on the medical device company’s stock.

A number of other equities research analysts have also issued reports on TNDM. Piper Sandler reaffirmed an overweight rating and set a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Barclays boosted their target price on Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an overweight rating in a research report on Monday, August 5th. Robert W. Baird boosted their target price on Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They set a buy rating and a $57.00 price target on the stock. Finally, UBS Group raised Tandem Diabetes Care to a hold rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $54.36.

Tandem Diabetes Care Stock Up 1.8 %

TNDM opened at $45.42 on Monday. Tandem Diabetes Care has a one year low of $13.82 and a one year 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. The stock’s fifty day moving average is $42.22 and its 200-day moving average is $40.86. The company has a market capitalization of $2.93 billion, a PE ratio of -20.93 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. The company had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. Tandem Diabetes Care’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.30) earnings per share. On average, equities analysts predict that Tandem Diabetes Care will post -1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TNDM. ORG Partners LLC acquired a new position in Tandem Diabetes Care in the 2nd quarter worth about $31,000. Headlands Technologies LLC acquired a new position in Tandem Diabetes Care in the 1st quarter worth about $35,000. MCF Advisors LLC increased its position in Tandem Diabetes Care by 79.3% in the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Tandem Diabetes Care in the 2nd quarter worth about $86,000. Finally, Signaturefd LLC increased its holdings in shares of Tandem Diabetes Care by 29.2% during the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 522 shares during the last quarter.

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.