Tandem Diabetes Care’s (TNDM) Overweight Rating Reiterated at Piper Sandler

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

Several other brokerages also recently issued reports on TNDM. Leerink Partnrs raised shares of Tandem Diabetes Care from a market perform rating to an outperform rating in a research report on Thursday, April 25th. Wells Fargo & Company raised Tandem Diabetes Care from an equal weight rating to an overweight rating and lifted their price target for the company from $21.00 to $45.00 in a research note on Monday, April 29th. Robert W. Baird increased their price objective on Tandem Diabetes Care from $28.00 to $36.00 and gave the stock a neutral rating in a report on Friday. Stifel Nicolaus boosted their target price on Tandem Diabetes Care from $37.00 to $40.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Finally, StockNews.com raised shares of Tandem Diabetes Care from a sell rating to a hold rating in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $44.50.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $44.76 on Friday. 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 has a 1 year low of $13.82 and a 1 year high of $47.00.

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

Hedge Funds Weigh In On Tandem Diabetes Care

A number of large investors have recently made changes to their positions in TNDM. Texas Permanent School Fund Corp increased its position in Tandem Diabetes Care by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,910 shares of the medical device company’s stock worth $2,015,000 after buying an additional 915 shares during the period. RiverPark Advisors LLC boosted its stake in shares of Tandem Diabetes Care by 1,008.4% in the first quarter. RiverPark Advisors LLC now owns 10,153 shares of the medical device company’s stock valued at $360,000 after buying an additional 9,237 shares during the period. Jennison Associates LLC grew its position 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 worth $90,512,000 after buying an additional 1,265,534 shares in the last quarter. Capstone Investment Advisors LLC grew its holdings in shares of Tandem Diabetes Care by 63.7% during the 1st quarter. Capstone Investment Advisors LLC now owns 13,585 shares of the medical device company’s stock worth $481,000 after purchasing an additional 5,288 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Tandem Diabetes Care by 4.5% during the first quarter. Janney Montgomery Scott LLC now owns 34,506 shares of the medical device company’s stock worth $1,222,000 after buying an additional 1,493 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.