Royal Bank of Canada Begins Coverage on Tandem Diabetes Care (NASDAQ:TNDM)

Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note published on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $65.00 target price on the medical device company’s stock.

TNDM has been the topic of several other reports. Morgan Stanley reissued an equal weight rating and issued a $45.00 price target on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Canaccord Genuity Group began coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a buy rating and a $57.00 target price on the stock. Barclays boosted their price target on Tandem Diabetes Care from $55.00 to $58.00 and gave the company an overweight rating in a research note on Monday, August 5th. Wells Fargo & Company increased their price objective on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Finally, Piper Sandler reissued an overweight rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $55.13.

Tandem Diabetes Care Stock Up 3.3 %

TNDM stock opened at $41.78 on Wednesday. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $53.69. The business’s 50 day simple moving average is $42.11 and its 200 day simple moving average is $41.60. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $2.73 billion, a PE ratio of -19.25 and a beta of 1.33.

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, beating the consensus estimate of ($0.54) by $0.07. The firm had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.30) earnings per share. As a group, research analysts anticipate that Tandem Diabetes Care will post -1.76 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

A number of institutional investors and hedge funds have recently made changes to their positions in TNDM. ORG Partners LLC bought a new position in Tandem Diabetes Care in the second quarter valued at approximately $31,000. Headlands Technologies LLC bought a new stake in Tandem Diabetes Care during the first quarter worth $35,000. MCF Advisors LLC boosted its holdings in shares of Tandem Diabetes Care by 79.3% in the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 445 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Tandem Diabetes Care in the 2nd quarter valued at $86,000. Finally, Signaturefd LLC raised its holdings in shares of Tandem Diabetes Care by 29.2% during the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock worth $93,000 after buying an additional 522 shares in the last quarter.

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.