Tandem Diabetes Care (NASDAQ:TNDM) Raised to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a hold rating to a buy rating in a research note published on Tuesday morning, MarketBeat.com reports. Stifel Nicolaus currently has $37.00 price target on the medical device company’s stock, up from their previous price target of $24.00.

A number of other equities analysts have also recently issued reports on the company. StockNews.com upgraded Tandem Diabetes Care from a sell rating to a hold rating in a report on Thursday, March 21st. Citigroup increased their target price on Tandem Diabetes Care from $25.00 to $31.00 and gave the stock a neutral rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $36.36.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $35.41 on Tuesday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -10.29 and a beta of 1.08. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $43.51. The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $26.75 and a 200-day moving average of $23.58.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. The firm had revenue of $196.80 million during the quarter, compared to the consensus estimate of $204.86 million. On average, equities analysts forecast that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in Tandem Diabetes Care by 79.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,788 shares of the medical device company’s stock worth $171,000 after acquiring an additional 2,562 shares during the last quarter. Kingdon Capital Management L.L.C. purchased a new stake in Tandem Diabetes Care in the 4th quarter worth about $5,744,000. Vanguard Group Inc. grew its holdings in Tandem Diabetes Care by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company’s stock valued at $207,708,000 after buying an additional 18,571 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Tandem Diabetes Care by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,747 shares of the medical device company’s stock valued at $1,087,000 after buying an additional 1,931 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Tandem Diabetes Care by 50.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,530 shares of the medical device company’s stock valued at $1,169,000 after buying an additional 13,287 shares in the last quarter.

About Tandem Diabetes Care

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.