Leerink Partnrs Upgrades Tandem Diabetes Care (NASDAQ:TNDM) to Outperform

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by analysts at Leerink Partnrs from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Zacks.com reports.

A number of other equities analysts have also recently weighed in on TNDM. SVB Leerink raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $34.00 to $45.00 in a research report on Thursday. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Stifel Nicolaus upped their price objective on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Citigroup increased their price target on shares of 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 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.45.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $35.24 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.83 and a quick ratio of 3.02. The firm has a 50-day moving average of $30.96 and a two-hundred day moving average of $25.37. The stock has a market cap of $2.28 billion, a P/E ratio of -10.24 and a beta of 1.12. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year 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 analysts’ consensus estimates of ($0.23) by ($0.04). The firm had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. On average, research analysts expect that Tandem Diabetes Care will post -1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently bought and sold shares of the business. RiverPark Advisors LLC bought a new position in Tandem Diabetes Care in the fourth quarter worth about $27,000. MCF Advisors LLC lifted its holdings in Tandem Diabetes Care by 79.3% in the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after acquiring an additional 445 shares during the last quarter. Signaturefd LLC lifted its holdings in Tandem Diabetes Care by 871.8% in the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after acquiring an additional 1,517 shares during the last quarter. Arcadia Investment Management Corp MI lifted its holdings in Tandem Diabetes Care by 141.6% in the first quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock worth $66,000 after acquiring an additional 1,085 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Tandem Diabetes Care by 51.7% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock worth $67,000 after acquiring an additional 1,099 shares during the last quarter.

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.