Barclays Issues Pessimistic Forecast for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its price target dropped by equities research analysts at Barclays from $60.00 to $53.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical device company’s stock. Barclays‘s price target would suggest a potential upside of 139.39% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research report on Monday, December 2nd. Royal Bank of Canada cut their price target on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday. Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday. Canaccord Genuity Group restated a “buy” rating and issued a $63.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday. Finally, Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $35.00 to $25.00 in a research report on Friday. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

Tandem Diabetes Care Stock Up 1.8 %

Shares of Tandem Diabetes Care stock traded up $0.39 on Friday, hitting $22.14. The company had a trading volume of 3,857,803 shares, compared to its average volume of 1,372,251. Tandem Diabetes Care has a 1 year low of $20.36 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The stock has a 50 day moving average of $35.22 and a 200-day moving average of $36.52. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -11.47 and a beta of 1.32.

Institutional Trading of Tandem Diabetes Care

Several hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its stake in Tandem Diabetes Care by 1.9% in the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock valued at $683,000 after buying an additional 362 shares in the last quarter. Bank of Montreal Can boosted its holdings in Tandem Diabetes Care by 4.3% in the 4th quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock valued at $360,000 after purchasing an additional 409 shares during the period. Summit Investment Advisors Inc. grew its position in Tandem Diabetes Care by 8.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock worth $247,000 after buying an additional 525 shares in the last quarter. Assetmark Inc. increased its stake in Tandem Diabetes Care by 77.5% in the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock worth $44,000 after acquiring an additional 535 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after acquiring an additional 541 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.