Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $21.00 at Mizuho

Tandem Diabetes Care (NASDAQ:TNDM) had its price target lifted by Mizuho from $18.00 to $21.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical device company’s stock. Mizuho’s target price suggests a potential downside of 7.08% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company increased their price target on Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Morgan Stanley set a $23.00 target price on Tandem Diabetes Care and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Citigroup raised their target price on Tandem Diabetes Care from $16.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, October 8th. Finally, Barclays boosted their price target on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.50.

Tandem Diabetes Care Stock Performance

TNDM opened at $22.60 on Wednesday. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $38.28. The firm has a market capitalization of $1.53 billion, a PE ratio of -7.41 and a beta of 1.68. The company has a current ratio of 2.44, a quick ratio of 1.90 and a debt-to-equity ratio of 2.33. The firm’s 50-day moving average price is $17.64 and its 200 day moving average price is $16.01.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) EPS for the quarter, meeting analysts’ consensus estimates of ($0.31). Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The company had revenue of $249.25 million during the quarter, compared to the consensus estimate of $235.80 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. Tandem Diabetes Care’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current fiscal 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. Amalgamated Bank increased its stake in Tandem Diabetes Care by 3.5% in the 3rd quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock valued at $238,000 after buying an additional 657 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Tandem Diabetes Care by 8.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,101 shares of the medical device company’s stock worth $319,000 after acquiring an additional 1,384 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Tandem Diabetes Care by 10.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,299 shares of the medical device company’s stock valued at $285,000 after acquiring an additional 1,399 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Tandem Diabetes Care by 200.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after acquiring an additional 1,470 shares during the period. Finally, State of Wyoming increased its stake in shares of Tandem Diabetes Care by 49.1% during the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock worth $86,000 after acquiring an additional 1,471 shares during the period.

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.