Tandem Diabetes Care (NASDAQ:TNDM) Price Target Increased to $55.00 by Analysts at Barclays

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective lifted by Barclays from $39.00 to $55.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. Barclays‘s price objective would indicate a potential upside of 27.37% from the company’s current price.

A number of other research firms have also recently weighed in on TNDM. Wells Fargo & Company raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $45.00 in a report on Monday, April 29th. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Leerink Partnrs raised Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 25th. SVB Leerink raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $45.00 in a research note on Thursday, April 25th. Finally, Robert W. Baird lifted their target price on Tandem Diabetes Care from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average target price of $43.80.

Tandem Diabetes Care Trading Down 3.4 %

TNDM traded down $1.54 on Monday, reaching $43.18. 807,305 shares of the company’s stock were exchanged, compared to its average volume of 1,761,763. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.01 and a current ratio of 3.81. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -19.76 and a beta of 1.10. The company’s 50 day moving average is $32.29 and its 200-day moving average is $26.19. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $47.00.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its 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 for the quarter, compared to analysts’ expectations of $204.86 million. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. Equities analysts predict that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Tandem Diabetes Care by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company’s stock valued at $207,708,000 after acquiring an additional 18,571 shares in the last quarter. Eminence Capital LP raised its holdings in Tandem Diabetes Care by 76.1% during the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after acquiring an additional 2,372,458 shares during the period. Jennison Associates LLC raised its stake in shares of Tandem Diabetes Care by 98.1% during the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after purchasing an additional 1,265,534 shares during the period. Paradice Investment Management LLC grew its stake in Tandem Diabetes Care by 23.9% during the third quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock valued at $31,572,000 after acquiring an additional 293,250 shares in the last quarter. Finally, GW&K Investment Management LLC bought a new position in shares of Tandem Diabetes Care in the fourth quarter worth $36,288,000.

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.