Tandem Diabetes Care (NASDAQ:TNDM) Coverage Initiated by Analysts at Royal Bank of Canada

Research analysts at Royal Bank of Canada started coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $65.00 price target on the medical device company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 60.65% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Wells Fargo & Company increased their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective on the stock. Oppenheimer boosted their target price on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Barclays raised their target price on Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average price target of $55.79.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $40.46 on Wednesday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -18.65 and a beta of 1.32. The firm’s fifty day moving average is $42.08 and its two-hundred day moving average is $41.46. 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 has a one year low of $13.82 and a one year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.07. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The business had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. During the same quarter in the prior year, the firm posted ($0.30) EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts expect that Tandem Diabetes Care will post -1.76 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently bought and sold shares of TNDM. Advisory Services Network LLC acquired a new stake in shares of Tandem Diabetes Care in the 4th quarter valued at about $205,000. KBC Group NV increased its position in Tandem Diabetes Care by 256.1% during the 4th quarter. KBC Group NV now owns 239,944 shares of the medical device company’s stock worth $7,098,000 after purchasing an additional 172,570 shares during the period. Capital International Sarl grew its holdings in Tandem Diabetes Care by 5.8% during the fourth quarter. Capital International Sarl now owns 56,242 shares of the medical device company’s stock worth $1,664,000 after acquiring an additional 3,106 shares during the period. CenterBook Partners LP purchased a new position in shares of Tandem Diabetes Care in the 4th quarter valued at about $205,000. Finally, Vanguard Group Inc. lifted its stake in shares of Tandem Diabetes Care by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company’s stock valued at $207,708,000 after purchasing an additional 18,571 shares during the period.

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.