Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $40.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target hoisted by Stifel Nicolaus from $37.00 to $40.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the medical device company’s stock.

TNDM has been the topic of a number of other research reports. Citigroup lifted their price objective on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a neutral rating in a research note on Wednesday, April 3rd. StockNews.com raised Tandem Diabetes Care from a sell rating to a hold rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $39.45.

Tandem Diabetes Care Stock Down 0.9 %

NASDAQ TNDM opened at $35.24 on Tuesday. The stock’s 50 day moving average is $30.96 and its 200 day moving average is $25.37. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. Tandem Diabetes Care has a 12 month low of $13.82 and a 12 month high of $40.74. The stock has a market cap of $2.28 billion, a PE ratio of -10.24 and a beta of 1.12.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. The business had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. 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

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Tandem Diabetes Care by 0.3% during 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 purchasing an additional 18,571 shares during the last quarter. Eminence Capital LP increased its position in shares of 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 purchasing an additional 2,372,458 shares during the last quarter. Paradice Investment Management LLC increased its position in shares of Tandem Diabetes Care by 23.9% during the 3rd quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock valued at $31,572,000 after purchasing an additional 293,250 shares during the last quarter. Jennison Associates LLC increased its position in shares of Tandem Diabetes Care by 14.9% during the 4th quarter. Jennison Associates LLC now owns 1,290,590 shares of the medical device company’s stock valued at $38,176,000 after purchasing an additional 167,675 shares during the last quarter. Finally, GW&K Investment Management LLC bought a new position in shares of Tandem Diabetes Care during the 4th quarter valued at approximately $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.