Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Upgraded by Citigroup

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Wednesday, MarketBeat reports. The brokerage currently has a $57.00 price target on the medical device company’s stock, up from their previous price target of $40.00. Citigroup’s price target suggests a potential upside of 14.73% from the company’s previous close.

TNDM has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $21.00 to $45.00 in a research report on Monday, April 29th. Leerink Partnrs raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. Piper Sandler restated an “overweight” rating and set a $50.00 target price (up from $35.00) on shares of Tandem Diabetes Care in a research report on Friday, May 3rd. 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, April 23rd. Finally, Barclays increased their target price on Tandem Diabetes Care from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.73.

View Our Latest Analysis on TNDM

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $49.68 on Wednesday. The firm has a market capitalization of $3.21 billion, a PE ratio of -22.89 and a beta of 1.10. The company has a quick ratio of 3.01, a current ratio of 3.81 and a debt-to-equity ratio of 1.43. Tandem Diabetes Care has a 12-month low of $13.82 and a 12-month high of $52.51. The firm has a 50-day moving average price of $36.78 and a 200 day moving average price of $28.66.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last announced its earnings results on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.17. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. The business had revenue of $191.67 million during the quarter, compared to analysts’ expectations of $173.06 million. Research analysts anticipate that Tandem Diabetes Care will post -1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MCF Advisors LLC lifted its holdings in Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 445 shares during the last quarter. Van ECK Associates Corp grew its position in Tandem Diabetes Care by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company’s stock worth $175,000 after buying an additional 467 shares in the last quarter. Diversified Trust Co increased its position in shares of Tandem Diabetes Care by 5.6% in the fourth quarter. Diversified Trust Co now owns 10,573 shares of the medical device company’s stock worth $313,000 after purchasing an additional 564 shares during the period. Raymond James & Associates raised its stake in Tandem Diabetes Care by 1.9% in the third 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 in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Tandem Diabetes Care by 10.1% during the third 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 during the period.

Tandem Diabetes Care Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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