Tandem Diabetes Care (NASDAQ:TNDM) Rating Increased to Outperform at SVB Leerink

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by stock analysts at SVB Leerink from a “market perform” rating to an “outperform” rating in a report released on Thursday, MarketBeat.com reports. The firm presently has a $45.00 price target on the medical device company’s stock, up from their prior price target of $34.00. SVB Leerink’s price objective points to a potential upside of 27.70% from the stock’s current price.

A number of other brokerages also recently weighed in on TNDM. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Citigroup upped their price objective on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus lifted their target price on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.45.

Tandem Diabetes Care Trading Down 0.9 %

Tandem Diabetes Care stock opened at $35.24 on Thursday. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $40.74. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -10.24 and a beta of 1.12. The company has a 50 day moving average price of $30.96 and a 200 day moving average price of $25.37.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $204.86 million. Research analysts forecast that Tandem Diabetes Care will post -1.62 EPS for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds have recently bought and sold shares of TNDM. Eminence Capital LP boosted its stake 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 worth $114,028,000 after acquiring an additional 2,372,458 shares in the last quarter. GW&K Investment Management LLC acquired a new position in Tandem Diabetes Care during the fourth quarter valued at approximately $36,288,000. Jennison Associates LLC raised its position 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 purchasing an additional 804,488 shares during the period. Chicago Capital LLC lifted 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 worth $18,785,000 after buying an additional 791,336 shares during the last quarter. Finally, Paradice Investment Management LLC lifted its stake in shares of 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 worth $31,572,000 after buying 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.