Tandem Diabetes Care (NASDAQ:TNDM) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note released on Wednesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $42.00 price objective on the medical device company’s stock.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Piper Sandler reiterated an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Barclays lifted their target price on Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price for the company. Finally, Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price target for the company. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $34.24 on Wednesday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -16.38 and a beta of 1.36. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. The stock has a 50 day moving average price of $39.21 and a 200-day moving average price of $41.88. Tandem Diabetes Care has a one year low of $13.82 and a one year high of $53.69.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Tandem Diabetes Care by 0.4% in the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after buying an additional 30,664 shares in the last quarter. Fred Alger Management LLC raised its stake in Tandem Diabetes Care by 45.2% in the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after buying an additional 677,036 shares in the last quarter. Bellevue Group AG raised its stake in Tandem Diabetes Care by 2.0% in the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after buying an additional 39,571 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in Tandem Diabetes Care by 12.2% in the third quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock worth $54,051,000 after buying an additional 138,263 shares in the last quarter. Finally, Chicago Capital LLC raised its stake in Tandem Diabetes Care by 22.2% in the third quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock worth $42,543,000 after buying an additional 182,085 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.