Tandem Diabetes Care (NASDAQ:TNDM) Lifted to “Outperform” at SVB Leerink

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by research analysts at SVB Leerink from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $45.00 target price on the medical device company’s stock, up from their previous target price of $34.00. SVB Leerink’s price target would indicate a potential upside of 27.70% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus boosted their price target on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Finally, Citigroup increased their price target on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.45.

Tandem Diabetes Care Price Performance

Shares of TNDM opened at $35.24 on Thursday. The stock has a market cap of $2.28 billion, a P/E ratio of -10.24 and a beta of 1.12. Tandem Diabetes Care has a 1 year low of $13.82 and a 1 year high of $40.74. The stock’s 50-day moving average price is $30.96 and its two-hundred day moving average price is $25.37. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. RiverPark Advisors LLC bought a new stake in Tandem Diabetes Care in the 4th quarter valued at approximately $27,000. MCF Advisors LLC lifted its position in shares of Tandem Diabetes Care by 79.3% in the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares in the last quarter. Signaturefd LLC boosted its holdings in Tandem Diabetes Care by 871.8% during the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after purchasing an additional 1,517 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in Tandem Diabetes Care by 141.6% in the first quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after purchasing an additional 1,085 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Tandem Diabetes Care in the 4th quarter valued at $73,000.

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.