10 Oversold Healthcare Stocks To Invest In

7. Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Number of Hedge Fund Holders: 33

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) is a medical device company specializing in insulin delivery systems for people with insulin-dependent diabetes. Tandem is positioned for growth through several key strategies. The launch of the Mobi insulin pump, the smallest automated insulin delivery system, is expected to drive new patient adoption and increase market share. TNDM is one of the best oversold stocks in the healthcare sector.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) is expanding its presence in international markets, opening new revenue streams and growth opportunities. Targeting the Type 2 diabetes market, Tandem aims to file for a Type 2 diabetes indication by the end of 2024. Moreover, the integration with Abbott’s FreeStyle Libre 3+ sensor is set to enhance its product offerings and attract more users.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) reported strong earnings in Q3 2024, driven by solid performance across its product portfolio, particularly the newly launched Tandem Mobi. Sales reached $243 million, reflecting a 23% year-over-year growth in the U.S. market, fueled by increased adoption of insulin pumps and strategic pricing improvements. While the company reported a negative EPS of $-0.36, it surpassed market expectations of $-0.40 and returned to positive free cash flow generation, signaling improved financial health.

As of Q3 2024, 33 hedge funds in the Insider Monkey database held shares in the stock, down from 31 in the previous quarter, as tracked by the Insider Monkey database. The largest stakeholder in the company in Q3 was Millennium Management with shares worth $60.8 million. Street analysts hold a consensus Strong Buy rating on the stock.