Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Tandem Diabetes Care (NASDAQ:TNDM) had its price target boosted by stock analysts at Wells Fargo & Company from $13.00 to $14.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the medical device company’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 13.90% from the company’s current price.

TNDM has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, October 8th. Lake Street Capital cut shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and lowered their target price for the company from $75.00 to $12.00 in a report on Monday, August 11th. Royal Bank Of Canada dropped their target price on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Piper Sandler lowered shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $14.00 in a research note on Thursday, August 7th. Finally, Wall Street Zen downgraded shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.25.

Tandem Diabetes Care Price Performance

Shares of TNDM opened at $16.26 on Friday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.33 and a beta of 1.51. The firm’s fifty day simple moving average is $13.68 and its 200-day simple moving average is $16.20. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $38.28. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, meeting the consensus estimate of ($0.31). The firm had revenue of $249.25 million for the quarter, compared to analyst estimates of $235.80 million. Tandem Diabetes Care had a negative return on equity of 68.85% and a negative net margin of 20.19%.Tandem Diabetes Care’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.35) earnings per share. Tandem Diabetes Care has set its FY 2025 guidance at EPS. Equities analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, CEO John F. Sheridan bought 10,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was acquired at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the completion of the purchase, the chief executive officer owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. This represents a 10.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of Tandem Diabetes Care

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNDM. Assetmark Inc. grew its stake in shares of Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 525 shares during the last quarter. CWM LLC raised its stake in shares of Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after purchasing an additional 2,025 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Tandem Diabetes Care by 417.8% during the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock worth $65,000 after purchasing an additional 2,741 shares during the period. Nisa Investment Advisors LLC grew its position in Tandem Diabetes Care by 186.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock valued at $78,000 after buying an additional 2,717 shares during the last quarter. Finally, State of Wyoming increased its stake in Tandem Diabetes Care by 49.1% in the 1st quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock valued at $86,000 after buying an additional 1,471 shares during the period.

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.