Leerink Partners analyst Mike Kratky has maintained their neutral stance on TNDM stock, giving a Hold rating on November 2.
Mike Kratky’s Hold rating for Tandem Diabetes Care’s stock primarily stems from the company’s lowered 2023 revenue guidance, which was influenced by a number of challenging circumstances related to international sales. There were three significant factors behind this decision: firstly, there was a decline in orders due to the pending availability of G7 integration; secondly, a software rollout at one of Tandem’s main distribution partners disrupted regular selling activities; and thirdly, an expected change in reimbursement policy in France could have an initial $10 million impact.
Kratky believes these issues are largely specific to Tandem and should not affect other companies in the sector. Despite these challenges, the analyst maintains a neutral stance, as he does not perceive any significant factors that could shift his perspective on Tandem. He acknowledges potential opportunities for increased market share associated with future product launches (Mobi Tubless in 2025 and Sigi in 2026/2027), however, he believes that the potential for major revisions to estimates may be limited in the immediate future. Consequently, he has reduced his price target for Tandem from $21 to $18, reflecting the updated model following the company’s third-quarter earnings for 2023.
In another report released on November 2, Stifel Nicolaus also maintained a Hold rating on the stock with a $17.00 price target.
TNDM’s price has also changed dramatically for the past six months – from $38.620 to $15.200, which is a -60.64% drop .
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Tandem Diabetes Care (TNDM) Company Description:
Tandem Diabetes Care, Inc. engages in the design, development, and commercialization of products for people with insulin-dependent diabetes. Its flagship product, t:slim X2 Insulin Delivery System, operates as a small insulin pump. The company was founded by Paul M. DiPerna on January 27, 2006 and is headquartered in San Diego, CA.
Read More on TNDM:
- Tandem Diabetes price target lowered to $39 from $62 at Barclays
- Tandem Diabetes price target lowered to $35 from $50 at Craig-Hallum
- Tandem Diabetes price target lowered to $22 from $34 at TD Cowen
- Tandem Diabetes price target lowered to $25 from $40 at Piper Sandler
- Tandem Diabetes price target lowered to $20 from $32 at Baird
