Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $58.00 at Barclays

Tandem Diabetes Care (NASDAQ:TNDM) had its price target upped by Barclays from $55.00 to $58.00 in a research note issued to investors on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the medical device company’s stock.

A number of other brokerages have also recently weighed in on TNDM. Wells Fargo & Company raised their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an overweight rating in a research note on Friday. Redburn Atlantic initiated coverage on Tandem Diabetes Care in a report on Thursday, May 30th. They issued a buy rating and a $60.00 price target for the company. Lake Street Capital lifted their price objective on Tandem Diabetes Care from $60.00 to $75.00 and gave the stock a buy rating in a research report on Wednesday, May 22nd. StockNews.com upgraded shares of Tandem Diabetes Care from a sell rating to a hold rating in a report on Friday, April 19th. Finally, SVB Leerink upgraded shares of Tandem Diabetes Care from a market perform rating to an outperform rating and upped their target price for the company from $34.00 to $45.00 in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $54.73.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM traded up $2.60 during trading hours on Monday, hitting $43.39. The company’s stock had a trading volume of 1,446,457 shares, compared to its average volume of 1,732,552. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week high of $53.69. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.01 and a current ratio of 3.81. The business’s 50-day moving average is $44.18 and its two-hundred day moving average is $36.37. The company has a market capitalization of $2.80 billion, a PE ratio of -20.23 and a beta of 1.28.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.07. The business had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative return on equity of 39.52% and a negative net margin of 17.15%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) EPS. As a group, research analysts anticipate that Tandem Diabetes Care will post -1.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Tandem Diabetes Care news, Director Dick Allen sold 5,000 shares of Tandem Diabetes Care stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.68, for a total value of $258,400.00. Following the transaction, the director now owns 24,396 shares in the company, valued at approximately $1,260,785.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates increased its position 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 in the last quarter. International Assets Investment Management LLC raised its stake in shares of Tandem Diabetes Care by 2,858.2% in the 4th quarter. International Assets Investment Management LLC now owns 4,881 shares of the medical device company’s stock valued at $144,000 after acquiring an additional 4,716 shares during the period. 180 Wealth Advisors LLC purchased a new position in shares of Tandem Diabetes Care in the 4th quarter valued at $228,000. Louisiana State Employees Retirement System acquired a new position in shares of Tandem Diabetes Care during the 4th quarter valued at $964,000. Finally, Lecap Asset Management Ltd. purchased a new stake in Tandem Diabetes Care during the 4th quarter worth $525,000.

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.