Analyst Josh Jennings from TD Cowen maintained a Buy rating on Tandem Diabetes Care (TNDM – Research Report) and keeping the price target at $40.00.
Josh Jennings has given his Buy rating due to a combination of factors including Tandem Diabetes Care’s strong worldwide sales performance and optimistic future sales outlook. Despite a slight miss in US pump sales for the fourth quarter, the company reported a 21% year-over-year increase in worldwide revenue, surpassing consensus estimates. This growth was driven by a significant rise in international sales and an overall increase in pump shipments.
Jennings also noted that the company’s 2025 sales outlook remains promising, with projected US sales potentially exceeding previous estimates. While there are concerns about potential market share loss, Tandem Diabetes Care maintains that competitive dynamics have not shifted. The company’s consistent gross margin and positive adjusted EBITDA further support the Buy rating, as these indicators suggest financial stability and potential for future growth.
In another report released on February 25, Wells Fargo also maintained a Buy rating on the stock with a $55.00 price target.