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

Equities researchers at Royal Bank of Canada started coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report issued on Wednesday, MarketBeat 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 price target would suggest a potential upside of 60.65% from the stock’s current price.

A number of other brokerages have also commented on TNDM. Robert W. Baird increased their price target on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They set a “buy” rating and a $57.00 target price on the stock. Finally, Canaccord Genuity Group assumed coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and an average target price of $55.79.

Tandem Diabetes Care Stock Down 1.7 %

Shares of NASDAQ TNDM opened at $40.46 on Wednesday. The stock has a market capitalization of $2.65 billion, a PE ratio of -18.65 and a beta of 1.32. 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 current ratio of 3.05 and a quick ratio of 2.38. The business’s fifty day moving average price is $42.08 and its 200-day moving average price is $41.46.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data 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. 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 analysts’ expectations of $205.63 million. During the same quarter in the prior year, the firm posted ($0.30) EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities research analysts anticipate that Tandem Diabetes Care will post -1.76 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently made changes to their positions in the company. KBC Group NV raised its position in shares of 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 valued at $7,098,000 after purchasing an additional 172,570 shares during the period. BNP Paribas Financial Markets raised its position in Tandem Diabetes Care by 1,481.5% in the 1st quarter. BNP Paribas Financial Markets now owns 145,812 shares of the medical device company’s stock worth $5,163,000 after purchasing an additional 136,592 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Tandem Diabetes Care during the 1st quarter worth approximately $540,000. Vanguard Group Inc. boosted its holdings in Tandem Diabetes Care by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after acquiring an additional 30,664 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Tandem Diabetes Care in the first quarter worth about $5,227,000.

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.