Tandem Diabetes Care (NASDAQ:TNDM) Upgraded to “Outperform” by SVB Leerink

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by analysts at SVB Leerink from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, FinViz reports. The firm currently has a $45.00 price target on the medical device company’s stock, up from their previous price target of $34.00. SVB Leerink’s price target suggests a potential upside of 28.13% from the stock’s current price.

A number of other equities analysts have also weighed in on TNDM. Citigroup increased their target price on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Stifel Nicolaus increased their target price on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Hold” and a consensus price target of $39.45.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM opened at $35.12 on Thursday. Tandem Diabetes Care has a 1 year low of $13.82 and a 1 year high of $40.74. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.83 and a quick ratio of 3.02. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -10.21 and a beta of 1.12. The company has a fifty day moving average price of $30.51 and a 200-day moving average price of $25.18.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $196.80 million for the quarter, compared to the consensus estimate of $204.86 million. Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. As a group, equities research analysts predict that Tandem Diabetes Care will post -1.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in Tandem Diabetes Care during the first quarter valued at approximately $8,018,000. New Mexico Educational Retirement Board bought a new stake in Tandem Diabetes Care during the first quarter valued at approximately $460,000. Arcadia Investment Management Corp MI lifted its position in Tandem Diabetes Care by 141.6% during the first quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after purchasing an additional 1,085 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Tandem Diabetes Care by 1,567.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,635 shares of the medical device company’s stock valued at $235,000 after purchasing an additional 6,237 shares during the last quarter. Finally, Diversified Trust Co lifted its position in Tandem Diabetes Care by 24.6% during the first quarter. Diversified Trust Co now owns 13,173 shares of the medical device company’s stock valued at $466,000 after purchasing an additional 2,600 shares during the last quarter.

Tandem Diabetes Care Company Profile

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.