Tandem Diabetes Care (NASDAQ:TNDM) PT Raised to $55.00 at Barclays

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective lifted by research analysts at Barclays from $39.00 to $55.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. Barclays‘s price target points to a potential upside of 27.37% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Leerink Partnrs upgraded Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. Piper Sandler reaffirmed an “overweight” rating and set a $50.00 price target (up from $35.00) on shares of Tandem Diabetes Care in a report on Friday. Citigroup increased their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. SVB Leerink upgraded shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $45.00 in a research report on Thursday, April 25th. Finally, Wells Fargo & Company upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $45.00 in a research report on Monday, April 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.80.

Tandem Diabetes Care Stock Down 3.4 %

Shares of TNDM traded down $1.54 during trading hours on Monday, reaching $43.18. The company’s stock had a trading volume of 807,305 shares, compared to its average volume of 1,761,763. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -19.76 and a beta of 1.10. The company has a quick ratio of 3.01, a current ratio of 3.81 and a debt-to-equity ratio of 1.43. The company has a 50 day moving average of $32.29 and a two-hundred day moving average of $26.19. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $47.00.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. As a group, research analysts predict that Tandem Diabetes Care will post -1.62 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors and hedge funds have recently made changes to their positions in TNDM. Eminence Capital LP lifted its holdings in Tandem Diabetes Care by 76.1% during the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock worth $114,028,000 after acquiring an additional 2,372,458 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Tandem Diabetes Care by 128.5% during the 4th quarter. Raymond James & Associates now owns 91,985 shares of the medical device company’s stock valued at $2,721,000 after purchasing an additional 51,721 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Tandem Diabetes Care by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,011 shares of the medical device company’s stock valued at $7,623,000 after purchasing an additional 16,586 shares during the period. Paradice Investment Management LLC increased its stake in Tandem Diabetes Care by 23.9% during the 3rd quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock worth $31,572,000 after purchasing an additional 293,250 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Tandem Diabetes Care by 38.3% during the 4th quarter. Handelsbanken Fonder AB now owns 14,800 shares of the medical device company’s stock worth $438,000 after buying an additional 4,100 shares during the period.

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.