TD Cowen analyst Josh Jennings has maintained their bullish stance on TNDM stock, giving a Buy rating on April 15.
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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 first quarter. The company’s sales exceeded expectations, with worldwide revenue reaching $234.4 million, a 22% increase year over year, surpassing the estimated $220.3 million.
Additionally, Tandem Diabetes Care demonstrated robust growth in both domestic and international markets, with US sales rising by 15% and international sales increasing by 35%. The company’s gross margin remained stable at 51%, defying the typical seasonal decline. Furthermore, the adjusted EBITDA loss was significantly narrower than anticipated, indicating improved financial health. These positive financial indicators, along with a strong cash position, underpin Jennings’s optimistic outlook on the stock.
In another report released on April 15, RBC Capital also maintained a Buy rating on the stock with a $45.00 price target.