William Plovanic, an analyst from Canaccord Genuity, maintained the Buy rating on Tandem Diabetes Care. The associated price target remains the same with $24.00.
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William Plovanic has given his Buy rating due to a combination of factors that highlight Tandem Diabetes Care’s potential for growth and strategic positioning. Despite missing Q2 revenue expectations, the company has shown strong performance in both US and international markets, with management optimistic about future revenue growth and margin expansion. The anticipated launch of new products like the SteadiSet and Tobi in 2026 is expected to drive further market penetration and revenue growth.
Additionally, Tandem’s strategic shift towards the pharmacy channel is seen as a positive move that could enhance patient access and reduce out-of-pocket costs, potentially increasing demand for their products. The company’s proactive approach to the proposed CMS reimbursement changes is also viewed as a strategic advantage, as it could lead to broader adoption of pump therapy. Overall, these factors contribute to Plovanic’s positive outlook on Tandem’s long-term growth prospects.
In another report released on August 7, RBC Capital also maintained a Buy rating on the stock with a $25.00 price target.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TNDM in relation to earlier this year.