Piper Sandler Reaffirms Overweight Rating for Tandem Diabetes Care (NASDAQ:TNDM)

Piper Sandler restated their overweight rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report published on Friday morning, Benzinga reports. Piper Sandler currently has a $50.00 price objective on the medical device company’s stock, up from their previous price objective of $35.00.

Other research analysts also recently issued research reports about the stock. Robert W. Baird upped their price target on shares of Tandem Diabetes Care from $28.00 to $36.00 and gave the stock a neutral rating in a research report on Friday. Leerink Partnrs upgraded Tandem Diabetes Care from a market perform rating to an outperform rating in a research note on Thursday, April 25th. StockNews.com upgraded Tandem Diabetes Care from a sell rating to a hold rating in a research note on Friday, April 19th. Citigroup increased their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company raised shares of 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. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care has a consensus rating of Moderate Buy and a consensus target price of $44.50.

Tandem Diabetes Care Price Performance

TNDM stock opened at $44.76 on Friday. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $47.00. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43. The firm has a 50 day moving average of $32.29 and a 200 day moving average of $26.19.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). 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 $196.80 million for the quarter, compared to analyst estimates of $204.86 million. Equities analysts predict that Tandem Diabetes Care will post -1.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Tandem Diabetes Care by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company’s stock valued at $207,708,000 after purchasing an additional 18,571 shares during the period. Eminence Capital LP grew its holdings in shares of Tandem Diabetes Care by 76.1% in the 3rd 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 during the last quarter. Jennison Associates LLC lifted its stake in Tandem Diabetes Care by 98.1% during the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after buying an additional 1,265,534 shares in the last quarter. Paradice Investment Management LLC boosted its stake in Tandem Diabetes Care by 23.9% in 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 period. Finally, GW&K Investment Management LLC purchased a new position in shares of Tandem Diabetes Care during the fourth quarter valued at $36,288,000.

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.