Tandem Diabetes Care, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Josh Jennings from TD Cowen maintained a Buy rating on the stock and has a $20.00 price target.
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Josh Jennings has given his Buy rating due to a combination of factors including Tandem Diabetes Care’s strong financial performance in the third quarter. The company reported sales that surpassed expectations, with a total revenue of $249 million, exceeding the forecasted $236 million. This was driven by a notable increase in U.S. sales, which reached $176 million, surpassing the target of $166 million.
Additionally, Tandem Diabetes Care maintained its guidance for 2025, projecting worldwide sales of $1 billion, with $700 million expected from the U.S. market and $300 million from international markets. The company’s non-premium valuation, along with the positive sales trends and a healthy mix of product adoption, further supports the Buy rating. The improvement in gross margin and the return to positive adjusted EBITDA also contribute to the optimistic outlook for the stock.
According to TipRanks, Jennings is a 2-star analyst with an average return of 0.6% and a 46.39% success rate. Jennings covers the Healthcare sector, focusing on stocks such as Medtronic, TransMedics Group, and Boston Scientific.