Robert W. Baird Has Lowered Expectations for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its price target reduced by stock analysts at Robert W. Baird from $37.00 to $33.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical device company’s stock. Robert W. Baird’s price target indicates a potential upside of 49.05% from the stock’s previous close.

Several other analysts have also commented on the stock. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price for the company. Canaccord Genuity Group restated a “buy” rating and issued a $63.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday. Barclays upped their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research report on Monday, December 2nd. Finally, Citigroup reduced their price target on shares of 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. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and an average price target of $51.88.

Tandem Diabetes Care Stock Up 1.8 %

TNDM stock opened at $22.14 on Thursday. Tandem Diabetes Care has a 12 month low of $20.36 and a 12 month high of $53.69. The firm has a market cap of $1.45 billion, a PE ratio of -11.47 and a beta of 1.32. The firm has a 50 day simple moving average of $35.22 and a 200 day simple moving average of $36.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Tandem Diabetes Care by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after purchasing an additional 77,451 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in shares of Tandem Diabetes Care by 14.1% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock worth $98,108,000 after purchasing an additional 337,026 shares during the last quarter. State Street Corp increased its stake in shares of Tandem Diabetes Care by 3.2% during the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock worth $112,630,000 after purchasing an additional 83,172 shares during the last quarter. GW&K Investment Management LLC increased its stake in shares of Tandem Diabetes Care by 18.0% during the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock worth $76,488,000 after purchasing an additional 323,674 shares during the last quarter. Finally, Bellevue Group AG increased its stake in shares of Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after purchasing an additional 307,624 shares during the last quarter.

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.