Tandem Diabetes Care (NASDAQ:TNDM) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from an equal weight rating to an overweight rating in a research note released on Monday, Marketbeat Ratings reports. They currently have $45.00 target price on the medical device company’s stock, up from their previous target price of $21.00.

A number of other brokerages have also issued reports on TNDM. SVB Leerink upgraded shares of Tandem Diabetes Care from a market perform rating to an outperform rating and boosted their price target for the stock from $34.00 to $45.00 in a research note on Thursday, April 25th. StockNews.com raised Tandem Diabetes Care from a sell rating to a hold rating in a research note on Friday, April 19th. Citigroup raised their price target on Tandem Diabetes Care from $31.00 to $38.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Leerink Partnrs raised Tandem Diabetes Care from a market perform rating to an outperform rating in a report on Thursday, April 25th. Finally, Stifel Nicolaus raised their target price on Tandem Diabetes Care from $37.00 to $40.00 and gave the company a buy rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care currently has an average rating of Moderate Buy and a consensus price target of $40.82.

Tandem Diabetes Care Trading Down 1.3 %

Shares of TNDM stock opened at $36.20 on Monday. The company has a market capitalization of $2.34 billion, a P/E ratio of -10.52 and a beta of 1.12. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $31.74 and its two-hundred day moving average is $25.82. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $40.61.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TNDM. RiverPark Advisors LLC purchased a new stake in shares of Tandem Diabetes Care in the 4th quarter worth about $27,000. MCF Advisors LLC lifted its holdings in shares of Tandem Diabetes Care by 79.3% in the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 445 shares in the last quarter. Signaturefd LLC grew its position in shares of Tandem Diabetes Care by 871.8% in the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock valued at $50,000 after purchasing an additional 1,517 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in shares of Tandem Diabetes Care by 141.6% in the first quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after purchasing an additional 1,085 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Tandem Diabetes Care by 51.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock worth $67,000 after purchasing an additional 1,099 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.