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

Morgan Stanley reissued their equal weight rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $45.00 price objective on the medical device company’s stock.

A number of other research analysts have also issued reports on the company. Barclays boosted their price objective on Tandem Diabetes Care from $55.00 to $58.00 and gave the company an overweight rating in a research report on Monday, August 5th. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They set a buy rating and a $57.00 price target for the company. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a buy rating and a $57.00 price objective on the stock. Redburn Atlantic initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, May 30th. They issued a buy rating and a $60.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $54.36.

Tandem Diabetes Care Stock Down 1.8 %

TNDM stock opened at $44.64 on Monday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -20.57 and a beta of 1.32. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $53.69. The firm has a fifty day moving average price of $42.17 and a two-hundred day moving average price of $40.99. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38.

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

Hedge Funds Weigh In On Tandem Diabetes Care

Several large investors have recently made changes to their positions in the business. ORG Partners LLC acquired a new position in shares of Tandem Diabetes Care in the 2nd quarter worth $31,000. Headlands Technologies LLC purchased a new position in Tandem Diabetes Care in the 1st quarter worth about $35,000. MCF Advisors LLC raised its holdings in Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after buying an additional 445 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Tandem Diabetes Care during the second quarter valued at about $86,000. Finally, Signaturefd LLC boosted its holdings in shares of Tandem Diabetes Care by 29.2% in the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock worth $93,000 after buying an additional 522 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.