Tandem Diabetes Care (NASDAQ:TNDM) Hits New 1-Year High Following Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares hit a new 52-week high during trading on Friday after Robert W. Baird raised their price target on the stock from $28.00 to $36.00. Robert W. Baird currently has a neutral rating on the stock. Tandem Diabetes Care traded as high as $47.00 and last traded at $46.06, with a volume of 1790113 shares traded. The stock had previously closed at $36.56.

Several other equities analysts have also weighed in on TNDM. Wells Fargo & Company raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $45.00 in a research report on Monday, April 29th. SVB Leerink raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $34.00 to $45.00 in a research report on Thursday, April 25th. Leerink Partnrs raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 25th. Citigroup lifted their price target on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus lifted their price target 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, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average price target of $43.45.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. RiverPark Advisors LLC bought a new position in Tandem Diabetes Care in the fourth quarter valued at approximately $27,000. MCF Advisors LLC lifted its position in Tandem Diabetes Care by 79.3% in the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after acquiring an additional 445 shares in the last quarter. Signaturefd LLC boosted its stake in Tandem Diabetes Care by 871.8% in the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after purchasing an additional 1,517 shares during the period. Arcadia Investment Management Corp MI increased its holdings in Tandem Diabetes Care by 141.6% during the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock worth $66,000 after purchasing an additional 1,085 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Tandem Diabetes Care during the 4th quarter worth about $73,000.

Tandem Diabetes Care Price Performance

The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -20.61 and a beta of 1.10. The company has a 50 day simple moving average of $32.29 and a 200-day simple moving average of $26.14. 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 (NASDAQ:TNDM) last posted its quarterly earnings data on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 32.33%. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current year.

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.