Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $20.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target raised by Stifel Nicolaus from $16.00 to $20.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. Stifel Nicolaus currently has a hold rating on the medical device company’s stock.

Other equities analysts have also issued reports about the stock. Robert W. Baird set a $30.00 target price on shares of Tandem Diabetes Care and gave the company an “outperform” rating in a report on Tuesday, December 16th. Truist Financial set a $24.00 price objective on shares of Tandem Diabetes Care and gave the company a “hold” rating in a research note on Thursday, December 18th. The Goldman Sachs Group restated a “neutral” rating and set a $25.00 price objective on shares of Tandem Diabetes Care in a research report on Friday, January 9th. 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.35.

Tandem Diabetes Care Trading Up 1.2%

Shares of TNDM stock opened at $19.17 on Wednesday. The stock has a market cap of $1.30 billion, a P/E ratio of -6.29 and a beta of 1.68. Tandem Diabetes Care has a 1 year low of $9.98 and a 1 year high of $37.35. 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 stock has a 50 day simple moving average of $21.14 and a 200 day simple moving average of $16.76.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, meeting the consensus estimate of ($0.31). The firm had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS. On average, research analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently bought and sold shares of the company. Mizuho Markets Americas LLC grew its holdings in shares of Tandem Diabetes Care by 23.2% during the fourth quarter. Mizuho Markets Americas LLC now owns 144,617 shares of the medical device company’s stock worth $3,179,000 after purchasing an additional 27,255 shares during the last quarter. Legato Capital Management LLC acquired a new stake in Tandem Diabetes Care during the 4th quarter worth approximately $1,595,000. Leonteq Securities AG bought a new stake in Tandem Diabetes Care during the 4th quarter worth approximately $172,000. Creative Financial Designs Inc. ADV grew its holdings in Tandem Diabetes Care by 36.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after acquiring an additional 909 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Tandem Diabetes Care by 5.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,347 shares of the medical device company’s stock valued at $491,000 after acquiring an additional 1,192 shares during the period.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.