Tandem Diabetes Care (NASDAQ:TNDM) Given New $22.00 Price Target at Stifel Nicolaus

Tandem Diabetes Care (NASDAQ:TNDMFree Report) had its price objective lifted by Stifel Nicolaus from $20.00 to $22.00 in a research report released on Friday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the medical device company’s stock.

A number of other brokerages have also recently issued reports on TNDM. Sanford C. Bernstein restated a “market perform” rating and issued a $25.00 price objective (up previously from $18.00) on shares of Tandem Diabetes Care in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Wednesday, January 21st. Truist Financial set a $24.00 price target on shares of Tandem Diabetes Care and gave the stock a “hold” rating in a research report on Thursday, December 18th. Wall Street Zen raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $22.00 price objective (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.50.

Get Our Latest Stock Report on Tandem Diabetes Care

Tandem Diabetes Care Trading Up 32.7%

Shares of TNDM opened at $24.57 on Friday. Tandem Diabetes Care has a 12-month low of $9.98 and a 12-month high of $35.12. The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -8.00 and a beta of 1.68. The stock’s 50-day moving average price is $20.91 and its 200 day moving average price is $17.01.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last announced its quarterly earnings data on Thursday, February 19th. The medical device company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $290.38 million during the quarter, compared to the consensus estimate of $277.14 million. Tandem Diabetes Care had a negative return on equity of 70.01% and a negative net margin of 20.17%.The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $0.01 EPS. As a group, research analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Freestone Grove Partners LP acquired a new position in shares of Tandem Diabetes Care during the third quarter valued at $22,706,000. Ophir Asset Management Pty Ltd bought a new stake in Tandem Diabetes Care during the 2nd quarter worth about $27,307,000. Assenagon Asset Management S.A. acquired a new position in Tandem Diabetes Care during the 4th quarter valued at about $26,988,000. First Light Asset Management LLC bought a new position in shares of Tandem Diabetes Care in the 4th quarter valued at about $23,947,000. Finally, BNP Paribas Financial Markets grew its position in shares of Tandem Diabetes Care by 468.5% during the 4th quarter. BNP Paribas Financial Markets now owns 1,248,481 shares of the medical device company’s stock worth $27,442,000 after buying an additional 1,028,866 shares during the period.

More Tandem Diabetes Care News

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Tandem Diabetes Care Company Profile

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Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.

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