Analyst Mike Kratky from Leerink Partners reiterated a Buy rating on Tandem Diabetes Care (TNDM – Research Report) and decreased the price target to $48.00 from $49.00.
Mike Kratky has given his Buy rating due to a combination of factors that indicate a positive outlook for Tandem Diabetes Care. The company has shown a strong recovery trajectory after a challenging start to the year, with first-quarter earnings surpassing expectations. Tandem’s sales for the first quarter were notably higher than anticipated, both in the United States and internationally, which has bolstered confidence in the company’s ability to meet its full-year guidance.
Moreover, several near-term opportunities could further enhance the stock’s performance. These include ongoing momentum in converting multiple daily injection users to pump therapy, a significant replacement cycle expected in the fiscal year, and potential expansion into new markets and channels. Additionally, upcoming developments in their technology, such as a fully closed-loop system, could provide further upside potential. These factors collectively support the Buy rating, despite a slight reduction in the price target to $48.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $75.00 price target.
TNDM’s price has also changed dramatically for the past six months – from $32.360 to $16.850, which is a -47.93% drop .