Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Upgraded by StockNews.com

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Several other brokerages have also issued reports on TNDM. Citigroup lifted their price target on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Stifel Nicolaus raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and lifted their price target for the company from $24.00 to $37.00 in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.00.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $30.43 on Friday. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $40.92. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -8.85 and a beta of 1.12. The firm’s 50-day simple moving average is $29.94 and its 200 day simple moving average is $24.86. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The firm had revenue of $196.80 million during the quarter, compared to the consensus estimate of $204.86 million. As a group, sell-side analysts predict that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds have recently added to or reduced their stakes in the business. Eminence Capital LP lifted its position in shares of Tandem Diabetes Care by 76.1% in the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock worth $114,028,000 after purchasing an additional 2,372,458 shares during the period. Raymond James & Associates lifted its position in shares of Tandem Diabetes Care by 128.5% in the 4th quarter. Raymond James & Associates now owns 91,985 shares of the medical device company’s stock worth $2,721,000 after purchasing an additional 51,721 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Tandem Diabetes Care by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,011 shares of the medical device company’s stock worth $7,623,000 after purchasing an additional 16,586 shares during the period. Paradice Investment Management LLC lifted its position in shares of Tandem Diabetes Care by 23.9% in the 3rd quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock worth $31,572,000 after purchasing an additional 293,250 shares during the period. Finally, Banque Pictet & Cie SA acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $2,295,000.

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.