Wed. Sep 20th, 2023
    Tandem Diabetes Care: A Promising Stock for Investors

    According to a consensus recommendation from twelve ratings firms, Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has received a “Hold” rating as of September 14, 2023, as reported by Bloomberg. Out of the twelve analysts, one has given a sell rating, while six have assigned a hold rating and five have issued a buy rating for the company.

    Despite the mixed ratings, the average one-year target price among brokers who have updated their coverage on Tandem Diabetes Care in the past year is $46.80. This indicates a potential growth opportunity for investors who are considering entering or maintaining their position in the company’s stock.

    Institutional investors and hedge funds have shown interest in Tandem Diabetes Care by buying and selling shares of the business. Notably, BlackRock Inc., one of the largest asset management firms globally, raised its stake in Tandem Diabetes Care by 45.1% in the first quarter of this year. With this increase, BlackRock now owns 9,207,560 shares of the medical device company’s stock valued at $373,919,000.

    Another significant institutional investor showing interest is Paradice Investment Management LLC, which purchased a new position in Tandem Diabetes Care during the second quarter worth approximately $30,106,000. Eminence Capital LP also increased its stake by 75.0% during the fourth quarter, holding 2,783,473 shares valued at $125,117,000. Marshall Wace LLP entered the picture by acquiring a new stake for roughly $39,615,000, and Norges Bank acquired a new stake valued at approximately $28,451,000 during Q4 of last year.

    Tandem Diabetes Care operates as a medical device company, designing and developing various products for individuals with insulin-dependent diabetes. The company’s flagship product is the t:slim X2 insulin delivery system, which includes the t:slim X2 pump, a 300-unit disposable insulin cartridge, and an infusion set.

    In conclusion, despite the “Hold” consensus recommendation from analysts, Tandem Diabetes Care remains an intriguing stock to watch. The average one-year target price among brokers suggests potential growth opportunities. Additionally, the company’s innovative medical device products aimed at assisting individuals with insulin-dependent diabetes make it a notable player in the healthcare industry.

    – Bloomberg: [Source]
    – BlackRock Inc.
    – Paradice Investment Management LLC
    – Eminence Capital LP
    – Marshall Wace LLP
    – Norges Bank