Barclays Raises Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $55.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price boosted by Barclays from $39.00 to $55.00 in a research note issued to investors on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the medical device company’s stock.

Several other brokerages also recently commented on TNDM. Wells Fargo & Company raised Tandem Diabetes Care from an equal weight rating to an overweight rating and lifted their target price for the stock from $21.00 to $45.00 in a report on Monday, April 29th. Robert W. Baird upped their target price on Tandem Diabetes Care from $28.00 to $36.00 and gave the company a neutral rating in a report on Friday, May 3rd. Stifel Nicolaus boosted their price target on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Piper Sandler reiterated an overweight rating and set a $50.00 price objective (up from $35.00) on shares of Tandem Diabetes Care in a research report on Friday, May 3rd. Finally, StockNews.com raised shares of Tandem Diabetes Care from a sell rating to a hold rating in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $43.80.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $42.15 on Monday. The stock’s 50-day moving average is $33.22 and its 200-day moving average is $26.64. The stock has a market cap of $2.72 billion, a P/E ratio of -19.42 and a beta of 1.10. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $47.00. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) 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 analyst estimates of $204.86 million. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. Equities research analysts anticipate that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in Tandem Diabetes Care by 70.9% in the third quarter. SG Americas Securities LLC now owns 23,510 shares of the medical device company’s stock worth $488,000 after acquiring an additional 9,751 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Tandem Diabetes Care by 10.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company’s stock worth $205,000 after purchasing an additional 908 shares in the last quarter. Raymond James & Associates grew its position in Tandem Diabetes Care by 1.9% in the 3rd quarter. Raymond James & Associates now owns 40,264 shares of the medical device company’s stock valued at $836,000 after purchasing an additional 737 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tandem Diabetes Care by 18.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,506 shares of the medical device company’s stock valued at $281,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Tandem Diabetes Care by 252.6% during the third quarter. Jennison Associates LLC now owns 1,122,915 shares of the medical device company’s stock worth $23,323,000 after buying an additional 804,488 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.