Tandem Diabetes Care (TNDM)

• Market cap: $1.04B
• 1 day: -3.59%
• 5 days: -6.59%
• 1 month: -27.66%
• 3 months: -8.62%
• 6 months: -56.95%
• Year to date: -56.50%
• 1 year: -65.54%
• 5 years: -83.74%
• 10 years: -86.55%
• Sector: Healthcare
• Industry: Medical Devices

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 patch 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: 2,650

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

1,027% more call options, than puts

Call options by funds: $61.6M | Put options by funds: $5.47M

25% more repeat investments, than reductions

Existing positions increased: 105 | Existing positions reduced: 84

0.03% less ownership

Funds ownership: 109.72% [Q4 2024] → 109.68% (-0.03%) [Q1 2025]

14% less funds holding

Funds holding: 313 [Q4 2024] → 269 (-44) [Q1 2025]

46% less capital invested

Capital invested by funds: $2.6B [Q4 2024] → $1.4B (-$1.2B) [Q1 2025]

52% less first-time investments, than exits

New positions opened: 38 | Existing positions closed: 79

60% less funds holding in top 10

Funds holding in top 10: 5 [Q4 2024] → 2 (-3) [Q1 2025]

Research analyst outlook

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

• Low target: $14 10% downside
• Avg. target: $29 85% upside
• High target: $59 278% upside

7 analyst ratings

• positive: 3 43%
• neutral: 3 43%
• negative: 1 14%

Citigroup Joanne Wuensch	10% downside $14	Sell Downgraded	9 Jul 2025
Truist Securities Richard Newitter	54% upside $24	Hold Initiated	16 Jun 2025
Canaccord Genuity William Plovanic	278% upside $59	Buy Maintained	1 May 2025
Stifel Mathew Blackman	99% upside $31	Buy Maintained	1 May 2025
Wells Fargo Larry Biegelsen	28% upside $20	Equal-Weight Maintained	1 May 2025