Morgan Stanley Reaffirms “Equal Weight” Rating for Tandem Diabetes Care (NASDAQ:TNDM)

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

Other analysts have also recently issued reports about the stock. UBS Group raised shares of Tandem Diabetes Care to a hold rating in a report on Friday, August 2nd. Oppenheimer upped their price objective on Tandem Diabetes Care from $47.00 to $58.00 and gave the stock an outperform rating in a research note on Monday, June 10th. Robert W. Baird lifted their target price on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an overweight rating in a report on Friday, August 2nd. Finally, Redburn Atlantic initiated coverage on Tandem Diabetes Care in a research note on Thursday, May 30th. They issued a buy rating and a $60.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Tandem Diabetes Care has an average rating of Moderate Buy and a consensus target price of $54.36.

Tandem Diabetes Care Stock Down 1.3 %

NASDAQ:TNDM opened at $44.08 on Monday. 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 fifty-two week low of $13.82 and a fifty-two week high of $53.69. The firm has a 50-day simple moving average of $42.20 and a two-hundred day simple moving average of $41.01.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share 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 during the quarter, compared to analyst estimates of $205.63 million. During the same quarter in the previous year, the firm earned ($0.30) EPS. Tandem Diabetes Care’s revenue was up 13.3% on a year-over-year basis. On average, analysts forecast that Tandem Diabetes Care will post -1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Tandem Diabetes Care by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after purchasing an additional 30,664 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Tandem Diabetes Care by 98.1% in the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after buying an additional 1,265,534 shares during the period. Fred Alger Management LLC increased its holdings in shares of Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after buying an additional 677,036 shares during the last quarter. Bellevue Group AG lifted its holdings in Tandem Diabetes Care by 2.0% in the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock valued at $71,949,000 after acquiring an additional 39,571 shares during the last quarter. Finally, Brown Capital Management LLC grew its position in Tandem Diabetes Care by 29.9% in the first quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock worth $33,801,000 after acquiring an additional 219,940 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.