Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $55.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target boosted by Stifel Nicolaus from $45.00 to $55.00 in a research report released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical device company’s stock.

Several other brokerages have also weighed in on TNDM. StockNews.com upgraded Tandem Diabetes Care from a sell rating to a hold rating in a research note on Friday, April 19th. Barclays raised their price target on Tandem Diabetes Care from $39.00 to $55.00 and gave the stock an overweight rating in a research report on Monday, May 6th. SVB Leerink upgraded Tandem Diabetes Care from a market perform rating to an outperform rating and lifted their target price for the company from $34.00 to $45.00 in a report on Thursday, April 25th. Leerink Partnrs upgraded Tandem Diabetes Care from a market perform rating to an outperform rating in a research report on Thursday, April 25th. Finally, Wells Fargo & Company upgraded Tandem Diabetes Care from an equal weight rating to an overweight rating and boosted their price target for the company from $21.00 to $45.00 in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of Moderate Buy and a consensus price target of $49.73.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $51.73 on Wednesday. The business’s fifty day moving average is $37.22 and its 200 day moving average is $28.81. Tandem Diabetes Care has a fifty-two week low of $13.82 and a fifty-two week high of $52.51. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.17. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. The firm had revenue of $191.67 million during the quarter, compared to analyst estimates of $173.06 million. Research analysts forecast that Tandem Diabetes Care will post -1.7 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MCF Advisors LLC lifted its position in shares of Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Tandem Diabetes Care by 8.6% during the 4th quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company’s stock worth $175,000 after buying an additional 467 shares during the last quarter. Diversified Trust Co raised its stake in Tandem Diabetes Care by 5.6% in the 4th quarter. Diversified Trust Co now owns 10,573 shares of the medical device company’s stock worth $313,000 after purchasing an additional 564 shares in the last quarter. Raymond James & Associates increased its holdings in Tandem Diabetes Care by 1.9% in the 3rd quarter. Raymond James & Associates now owns 40,264 shares of the medical device company’s stock valued at $836,000 after buying an additional 737 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Tandem Diabetes Care by 10.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company’s stock valued at $205,000 after purchasing an additional 908 shares during the last quarter.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.