Tandem Diabetes Care (NASDAQ:TNDM) Sets New 52-Week High Following Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares reached a new 52-week high on Friday after Robert W. Baird raised their price target on the stock from $28.00 to $36.00. Robert W. Baird currently has a neutral rating on the stock. Tandem Diabetes Care traded as high as $47.00 and last traded at $46.06, with a volume of 1790113 shares. The stock had previously closed at $36.56.

A number of other equities research analysts also recently weighed in on TNDM. Citigroup upped 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 increased their target price on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. SVB Leerink upgraded shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $45.00 in a report on Thursday, April 25th. StockNews.com raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $45.00 in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.45.

Institutional Trading of Tandem Diabetes Care

Large investors have recently added to or reduced their stakes in the company. MCF Advisors LLC boosted 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 buying an additional 445 shares during the period. Van ECK Associates Corp lifted its stake in Tandem Diabetes Care by 8.6% in the 4th quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company’s stock worth $175,000 after acquiring an additional 467 shares in the last quarter. Diversified Trust Co boosted its position in Tandem Diabetes Care by 5.6% during the 4th quarter. Diversified Trust Co now owns 10,573 shares of the medical device company’s stock worth $313,000 after acquiring an additional 564 shares during the period. Raymond James & Associates grew its stake in Tandem Diabetes Care by 1.9% during the 3rd quarter. Raymond James & Associates now owns 40,264 shares of the medical device company’s stock valued at $836,000 after acquiring an additional 737 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Tandem Diabetes Care by 10.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company’s stock valued at $205,000 after purchasing an additional 908 shares during the period.

Tandem Diabetes Care Stock Up 22.3 %

The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $2.89 billion, a PE ratio of -13.00 and a beta of 1.10. The business’s 50-day moving average price is $32.29 and its 200-day moving average price is $26.08.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $204.86 million. As a group, equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

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.