Tandem Diabetes Care (TNDM)

• Market cap: $2.36B
• 1 day: 7.94%
• 5 days: 9.62%
• 1 month: 19.10%
• 3 months: -19.54%
• 6 months: -15.64%
• Year to date: 26.76%
• 1 year: 30.34%
• 5 years: -41.07%
• 10 years: -72.21%
• Sector: Healthcare
• Industry: Surgical & Medical Instruments & Apparatus

About: Tandem Diabetes designs, manufactures, and markets durable insulin pumps for diabetes patients. The firm first entered this market in 2012 and has since introduced multiple generations of pumps leading to its current t:slim X2 device. The firm recently launched its smaller Mobi pump and continues to work on a tubeless pump. Nearly three-quarters of total revenue is derived from the us, with the remainder primarily from other developed nations. The pumps themselves generate just over half of total sales, and another one third is from disposable infusion sets that need to be changed over every 2 to 3 days.

Employees: 2,400

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

1,272% more call options, than puts

Call options by funds: $145M | Put options by funds: $10.5M

150% more funds holding in top 10

Funds holding in top 10: 2 [Q2] → 5 (+3) [Q3]

26% more first-time investments, than exits

New positions opened: 58 | Existing positions closed: 46

4% more funds holding

Funds holding: 315 [Q2] → 327 (+12) [Q3]

3% more capital invested

Capital invested by funds: $3.01B [Q2] → $3.1B (+$91.5M) [Q3]

6% less repeat investments, than reductions

Existing positions increased: 109 | Existing positions reduced: 116

3.94% less ownership

Funds ownership: 115.51% [Q2] → 111.57% (-3.94%) [Q3]

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $37 3% upside
• Avg. target: $50 40% upside
• High target: $65 81% upside

8 analyst ratings

• positive: 6 75%
• neutral: 2 25%
• negative: 0 0%

Citigroup Joanne Wuensch 55% 1-year accuracy 26 / 47 met price target	39% upside $50	Buy Maintained	11 Dec 2024
Morgan Stanley Patrick Wood 55% 1-year accuracy 6 / 11 met price target	25% upside $45	Overweight Upgraded	2 Dec 2024
Barclays Matt Miksic 61% 1-year accuracy 22 / 36 met price target	67% upside $60	Overweight Maintained	8 Nov 2024
Canaccord Genuity William Plovanic 57% 1-year accuracy 26 / 46 met price target	56% upside $56	Buy Maintained	7 Nov 2024
Baird Jeff Johnson 46% 1-year accuracy 6 / 13 met price target	3% upside $37	Neutral Maintained	7 Nov 2024