Tandem Diabetes Care (TNDM)
Builds software-updatable insulin pumps, cartridges, and infusion sets for diabetes care.
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Sells t:slim X2 and Tandem Mobi insulin pumps, related cartridges, and infusion sets through a single Insulin Pumps and Supplies segment. Revenue is concentrated in the United States, with international markets contributing a meaningful minority, and the portfolio depends on regulatory clearances, CGM integrations, and software-updatable automated insulin delivery.
Builds insulin-delivery systems around the t:slim X2 pump, Tandem Mobi, and Control-IQ+ automated insulin-delivery software. The product set also includes single-use cartridges, infusion sets, mobile applications, and cloud-based diabetes management tools.
Sales run through the Insulin Pumps and Supplies segment and are concentrated in the United States, with international markets as a meaningful minority. The company has expanded from touchscreen pump design into software updates, smartphone control, CGM integrations, and automated insulin adjustment.
Execution depends on regulatory clearances, durable-pump adoption, recurring supply use, and compatibility with external glucose-sensing ecosystems. Competition comes from insulin-delivery device makers and adjacent diabetes technologies.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 21, 2026 | William Blair | Initiate | Rating: — | |
| Aug 7, 2026 | RBC Capital | Reiterate | Rating: —Target: $30 | Target: $26 |
| Aug 7, 2026 | Canaccord Genuity | Target | Target: $35 | Target: $40 |
| Jul 28, 2026 | UBS | Target | Target: $22 | Target: $18 |
| Jun 23, 2026 | Deutsche Bank | Initiate | Rating: —Target: — | Target: $15.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $456.0M · Total debt $739.3M · Total assets $1.15B · Shareholders' equity $130.4M
- Revenue
- $254.6M
- Operating income
- −$13.8M
- Net income
- −$21.2M
No dividends on record.
| Institutions | 114.11% | 79.40M shares | |
|---|---|---|---|
| 290 holders · as of Jun 30, 2026 | |||
| Insiders | 1.19% | 825.5K shares | |
| 17 holders · as of Aug 18, 2026 | |||
| Strategic holders | 6.24% | 4.34M shares | |
| 1 holder · as of May 5, 2026 | |||
| Adds to | 121.54% | ||
69.58M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 121.54%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.65% | 11.58M | as of Jun 30, 2026 |
Sessa Capital Im, L.P.Institution | 7.33% | 5.10M | as of Jun 30, 2026 |
Sessa Capital (Master), L.P.Institution | 6.42% | 4.47M | filed May 15, 2025 |
Voya Financial, Inc.Strategic | 6.24% | 4.34M | filed May 5, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.18% | 4.30M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 17, 2026 | Mark David Novara | officer: EVP & CHIEF COMMERCIAL OFFICER | −187 | $23.05 |
| Mar 5, 2026 | Mark David Novara | officer: EVP & CHIEF COMMERCIAL OFFICER | −2 | $22.81 |
- Insulet
Tubeless Omnipod platform for automated insulin delivery
- Medtronic
MiniMed AID systems and global diabetes infrastructure
- Beta Bionics
iLet simplifies AID with automated dosing and minimal setup
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Tandem Diabetes Care | $17.59 | −0.17% | $1.21B | — | — | 1.2 | +5.8% |
| Insulet | $139.96 | −0.41% | $9.73B | 26.3 | 20.3 | 3.2 | +23.5% |
| Medtronic | $90.85 | −0.98% | $117.44B | 22.6 | 15.1 | 3.1 | +13.7% |
| Beta Bionics | $23.05 | +4.58% | $991.6M | — | — | 8.3 | +37.8% |
| Median | 24.4 | 17.7 | 3.2 | +23.5% |