Tandem Diabetes Care, Inc. (TNDM) Stock

Tandem Diabetes Care, Inc. (TNDM) is a Healthcare stock trading at $22.59 (as of 2026-08-20), with a market capitalization of $1.55B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Tandem Diabetes Care, Inc. designs, develops, and commercializes insulin-delivery and diabetes-data products for people with insulin-dependent diabetes. Its offerings include the t:slim X2 insulin delivery system, software update and integration tools, the t:connect web application for displaying therapy management data, and the Sugarmate mobile app for insulin users, along with support for caregivers and healthcare providers.

Understand Tandem Diabetes Care, Inc.: how it makes money

Tandem Diabetes Care sells insulin delivery medical devices, led by the t:slim X2 pump platform (pump plus disposable insulin cartridge and infusion set), along with related software and update tools, and it generates revenue from worldwide pump and supplies and other sales.

The business links pump adoption and usage to monetization through both pump-related sales (pumps shipped) and Supplies and Other revenue, supported by an installed base of people using the t:slim X2.

Business quality (Weak): Gross margin is reported at 55.3% for the latest quarter, but the company is still loss-making at an operating margin of -7.1%, so investors will likely focus on whether pump sales and installed-base dynamics translate into operating profitability.

Bull case

  • Large and growing installed base: Worldwide Installed Base of People Using Tandem T-Slim X2 is 375,000, including 265,000 in the United States and 110,000 outside the United States.
  • Meaningful gross margin level: Gross margin is 55.3% for the quarter ended 2026-03-31.

Bear case

  • Operating losses: Operating margin is -7.1% for the quarter ended 2026-03-31.
  • Scale and geography split: Reported worldwide revenue is 0.19B, with United States revenue candidates at 0.17B and international revenue candidates at 0.07B, indicating a meaningful concentration in the United States based on the available breakdowns.
Valuation — source: SEC EDGAR (first-party)
Price$22.59
Market Cap$1.55B
Price / Book11.69
Price / Sales1.51
FCF Yield-0.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.01B
Net Margin-20.2%
Revenue Growth (YoY)5.5%
EPS Growth (YoY)-84.8%
FCF Growth (YoY)-122.5%
Financial Health — source: SEC EDGAR
Altman Z-Score0.25 (distress)
Piotroski F-Score4/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Medical Equipment)32.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($204.94M)
Institutional Holders Tracked10
Congressional Trades (recent)6
Company
SectorHealthcare
IndustryMedical Equipment
CEOJohn F. Sheridan
Employees2,650
CountryUS
IPO Date2013-11-14

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TNDM earnings history · TNDM institutional & insider holders · TNDM KPIs & operating metrics · TNDM financials · TNDM investor presentations & press releases · TNDM SEC filings · TNDM peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.