Tandem Diabetes Care (NASDAQ:TNDM) Price Target Cut to $31.00 by Analysts at Stifel Nicolaus

Tandem Diabetes Care (NASDAQ:TNDM) had its price target cut by equities research analysts at Stifel Nicolaus from $60.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ price target points to a potential upside of 44.32% from the company’s previous close.

Other analysts have also issued research reports about the company. Wells Fargo & Company decreased their price target on Tandem Diabetes Care from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday. Piper Sandler lowered their target price on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays cut their price target on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Morgan Stanley lowered shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $45.00 to $22.00 in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.81.

Tandem Diabetes Care Trading Up 7.5 %

Shares of Tandem Diabetes Care stock opened at $21.48 on Thursday. Tandem Diabetes Care has a 52-week low of $15.75 and a 52-week high of $53.69. The firm has a market capitalization of $1.43 billion, a PE ratio of -11.13 and a beta of 1.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The company’s fifty day moving average price is $18.80 and its two-hundred day moving average price is $28.63.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). The business had revenue of $234.42 million during the quarter, compared to the consensus estimate of $220.19 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.65) EPS. On average, analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current year.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the transaction, the chief operating officer now owns 10,538 shares in the company, valued at approximately $190,948.56. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tandem Diabetes Care

Several large investors have recently bought and sold shares of the business. McIlrath & Eck LLC bought a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at $52,000. Franklin Resources Inc. grew its stake in shares of Tandem Diabetes Care by 95.6% during the third quarter. Franklin Resources Inc. now owns 26,785 shares of the medical device company’s stock worth $1,136,000 after purchasing an additional 13,088 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Tandem Diabetes Care by 134.6% during the third quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock worth $8,379,000 after purchasing an additional 113,355 shares during the period. Park Avenue Securities LLC increased its holdings in Tandem Diabetes Care by 34.5% in the fourth quarter. Park Avenue Securities LLC now owns 8,914 shares of the medical device company’s stock valued at $321,000 after purchasing an additional 2,286 shares during the last quarter. Finally, LVW Advisors LLC lifted its stake in Tandem Diabetes Care by 13.8% in the fourth quarter. LVW Advisors LLC now owns 7,798 shares of the medical device company’s stock valued at $281,000 after buying an additional 944 shares during the period.

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.