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Tandem Diabetes Care’s Strong Q1 Performance and Growth Drive Buy Rating

Tandem Diabetes Care’s Strong Q1 Performance and Growth Drive Buy Rating

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.

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