Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $58.00

Tandem Diabetes Care (NASDAQ:TNDMFree Report) had its target price lifted by Oppenheimer from $47.00 to $58.00 in a research note released on Monday morning, Benzinga reports. They currently have an outperform rating on the medical device company’s stock.

A number of other research analysts also recently commented on TNDM. Stifel Nicolaus increased their price target on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the company a buy rating in a report on Wednesday, May 22nd. StockNews.com raised shares of Tandem Diabetes Care from a sell rating to a hold rating in a report on Friday, April 19th. Citigroup raised shares of Tandem Diabetes Care from a neutral rating to a buy rating and lifted their price target for the stock from $40.00 to $57.00 in a report on Wednesday, May 22nd. Redburn Atlantic began coverage on Tandem Diabetes Care in a research note on Thursday, May 30th. They set a buy rating and a $60.00 target price on the stock. Finally, Leerink Partnrs upgraded Tandem Diabetes Care from a market perform rating to an outperform rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $51.25.

View Our Latest Stock Report on Tandem Diabetes Care

Tandem Diabetes Care Stock Performance

TNDM stock opened at $45.45 on Monday. The stock has a market capitalization of $2.94 billion, a PE ratio of -20.94 and a beta of 1.27. Tandem Diabetes Care has a 12-month low of $13.82 and a 12-month high of $53.69. 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 stock’s 50 day simple moving average is $42.54 and its 200 day simple moving average is $32.28.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The medical device company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.17. The firm had revenue of $191.67 million during the quarter, compared to analyst estimates of $173.06 million. Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. As a group, research analysts forecast that Tandem Diabetes Care will post -1.7 earnings per share for the current fiscal year.

Insider Activity

In other Tandem Diabetes Care news, Director Dick Allen sold 5,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.68, for a total value of $258,400.00. Following the completion of the transaction, the director now directly owns 24,396 shares in the company, valued at approximately $1,260,785.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. RiverPark Advisors LLC acquired a new position in Tandem Diabetes Care in the 4th quarter valued at $27,000. Headlands Technologies LLC acquired a new stake in Tandem Diabetes Care in the 1st quarter worth $35,000. MCF Advisors LLC boosted its position in shares of Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after acquiring an additional 445 shares in the last quarter. Signaturefd LLC boosted its position in shares of Tandem Diabetes Care by 871.8% during the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock valued at $50,000 after acquiring an additional 1,517 shares in the last quarter. Finally, Arcadia Investment Management Corp MI boosted its position in shares of Tandem Diabetes Care by 141.6% during the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after acquiring an additional 1,085 shares in the last quarter.

About Tandem Diabetes Care

(Get Free Report)

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.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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