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

Tandem Diabetes Care (NASDAQ:TNDM) had its target price lifted by Stifel Nicolaus from $37.00 to $40.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the medical device company’s stock.

Several other brokerages have also recently commented on TNDM. StockNews.com raised Tandem Diabetes Care from a sell rating to a hold rating in a research report on Friday, April 19th. Citigroup raised their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $37.27.

Tandem Diabetes Care Stock Up 10.2 %

Shares of Tandem Diabetes Care stock opened at $34.97 on Tuesday. The stock has a market capitalization of $2.26 billion, a P/E ratio of -10.17 and a beta of 1.11. The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average price of $30.30 and a two-hundred day moving average price of $25.11. Tandem Diabetes Care has a 12-month low of $13.82 and a 12-month high of $40.74.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data 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 business had revenue of $196.80 million during 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%. Equities analysts expect that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in TNDM. Eminence Capital LP increased its stake in shares of Tandem Diabetes Care by 76.1% in the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after buying an additional 2,372,458 shares in the last quarter. GW&K Investment Management LLC acquired a new stake in shares of Tandem Diabetes Care in the fourth quarter valued at $36,288,000. Jennison Associates LLC increased its stake in shares of Tandem Diabetes Care by 252.6% in the third quarter. Jennison Associates LLC now owns 1,122,915 shares of the medical device company’s stock valued at $23,323,000 after buying an additional 804,488 shares in the last quarter. Chicago Capital LLC increased its stake in shares of Tandem Diabetes Care by 699.8% in the third quarter. Chicago Capital LLC now owns 904,410 shares of the medical device company’s stock valued at $18,785,000 after buying an additional 791,336 shares in the last quarter. Finally, Paradice Investment Management LLC boosted its holdings in Tandem Diabetes Care by 23.9% in 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 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.