Tandem Diabetes Care (NASDAQ:TNDM) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note issued on Tuesday. The brokerage set a “hold” rating and a $15.50 price target on the medical device company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 8.09% from the company’s current price.

A number of other equities analysts have also commented on TNDM. Barclays set a $55.00 price target on Tandem Diabetes Care and gave the company an “overweight” rating in a research note on Monday, May 11th. Citigroup reaffirmed a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th. Truist Financial reissued a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Lake Street Capital raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Monday, February 23rd. Finally, Bank of America decreased their target price on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.12.

Tandem Diabetes Care Stock Down 6.3%

Shares of TNDM stock opened at $14.34 on Tuesday. The stock has a market cap of $982.72 million, a P/E ratio of -10.24 and a beta of 1.58. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week high of $29.65. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. The company’s fifty day simple moving average is $17.35 and its two-hundred day simple moving average is $20.03.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The firm had revenue of $247.22 million during the quarter, compared to analyst estimates of $240.41 million. During the same quarter last year, the business posted ($0.66) earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts predict that Tandem Diabetes Care will post -0.74 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Institutional investors have recently bought and sold shares of the stock. Freestone Grove Partners LP purchased a new position in Tandem Diabetes Care during the third quarter worth $22,706,000. Assenagon Asset Management S.A. bought a new stake in shares of Tandem Diabetes Care in the 4th quarter worth about $26,988,000. First Light Asset Management LLC bought a new stake in shares of Tandem Diabetes Care in the 4th quarter worth about $23,947,000. BNP Paribas Financial Markets boosted its stake in shares of Tandem Diabetes Care by 468.5% during the 4th quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock worth $27,442,000 after purchasing an additional 1,028,866 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its stake in shares of Tandem Diabetes Care by 36.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after purchasing an additional 991,649 shares during the period.

About Tandem Diabetes Care

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.