Tandem Diabetes Care’s (TNDM) “Buy” Rating Reiterated at Canaccord Genuity Group

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity Group in a research note issued on Wednesday,Benzinga reports. They presently have a $63.00 price objective on the medical device company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 189.66% from the company’s previous close.

TNDM has been the topic of a number of other research reports. Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a research report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price on the stock. Barclays boosted their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Robert W. Baird dropped their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Citigroup reduced their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.38.

Tandem Diabetes Care Price Performance

TNDM opened at $21.75 on Wednesday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -11.27 and a beta of 1.32. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a 12-month low of $21.43 and a 12-month high of $53.69. The business’s fifty day simple moving average is $35.45 and its 200-day simple moving average is $36.62.

Institutional Trading of Tandem Diabetes Care

Institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in Tandem Diabetes Care during the 3rd quarter valued at approximately $28,000. Assetmark Inc. acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $29,000. AlphaQuest LLC raised its stake in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after acquiring an additional 541 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Tandem Diabetes Care by 195.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after acquiring an additional 748 shares during the period. Finally, McIlrath & Eck LLC acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth about $52,000.

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.