Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $40.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target boosted by Stifel Nicolaus from $37.00 to $40.00 in a report issued on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical device company’s stock.

Several other research firms have also weighed in on TNDM. StockNews.com raised shares of Tandem Diabetes Care from a sell rating to a hold rating in a report on Friday, April 19th. Citigroup lifted their price target on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $39.45.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $35.24 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.83 and a quick ratio of 3.02. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -10.24 and a beta of 1.12. The company has a 50 day moving average price of $30.96 and a 200-day moving average price of $25.37. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $40.74.

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 firm had revenue of $196.80 million for 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 research analysts forecast that Tandem Diabetes Care will post -1.62 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eminence Capital LP boosted its stake in Tandem Diabetes Care by 76.1% during the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock worth $114,028,000 after purchasing an additional 2,372,458 shares during the last quarter. Raymond James & Associates boosted its stake in 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 worth $2,721,000 after purchasing an additional 51,721 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tandem Diabetes Care by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,011 shares of the medical device company’s stock worth $7,623,000 after purchasing an additional 16,586 shares during the last quarter. Paradice Investment Management LLC boosted 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 during the last quarter. Finally, Banque Pictet & Cie SA acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth $2,295,000.

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.