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Investing.com - Oppenheimer maintained its Outperform rating on Tandem Diabetes Care (NASDAQ:TNDM) while lowering its price target to $22.00 from $44.00, according to a research note released Monday. The stock, currently trading at $12.58, has seen a significant decline of over 70% in the past year. According to InvestingPro data, analyst targets for the stock range from $11 to $51.
The rating action comes as analyst coverage of the diabetes technology company transfers to a different analyst at the firm due to a reallocation of responsibilities within Oppenheimer.
The significant price target reduction reflects a change in valuation methodology applied to Tandem Diabetes Care shares, the research firm explained in its note.
Oppenheimer also adjusted its financial estimates for the company following Tandem’s second-quarter results, which were reported on August 6.
Despite the lower price target, Oppenheimer maintained its positive Outperform rating on the stock, indicating continued confidence in the company’s overall business prospects.
In other recent news, Tandem Diabetes Care reported its second-quarter 2025 earnings, which revealed a larger-than-expected loss per share. The company posted an EPS loss of $0.78, falling short of the anticipated loss of $0.40. Despite this, Tandem’s revenue slightly surpassed expectations, although U.S. sales did not meet projections. In light of these results, CFRA has revised its price target for Tandem Diabetes Care to $22.00, maintaining a Hold rating due to concerns over GLP-1 risks. TD Cowen also lowered its price target to $20.00 from $27.00, expressing concerns about U.S. sales but retaining a Buy rating. Barclays adjusted its price target to $51.00 from $53.00, noting that international sales outperformed while U.S. sales lagged. These developments reflect ongoing challenges and adjustments in analyst expectations for Tandem Diabetes Care.
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