Oppenheimer Boosts Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $58.00

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) had its price objective boosted by research analysts at Oppenheimer from $47.00 to $58.00 in a report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the medical device company’s stock. Oppenheimer’s price objective indicates a potential upside of 18.73% from the company’s current price.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $45.00 in a research report on Monday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $50.00 price target (up previously from $35.00) on shares of Tandem Diabetes Care in a research report on Friday, May 3rd. Lake Street Capital lifted their price objective on shares of Tandem Diabetes Care from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Barclays lifted their price objective on shares of Tandem Diabetes Care from $39.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Finally, Leerink Partnrs raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.15.

View Our Latest Stock Analysis on TNDM

Tandem Diabetes Care Stock Down 1.5 %

Tandem Diabetes Care stock opened at $48.85 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.01 and a current ratio of 3.81. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week high of $53.69. The firm has a 50 day moving average price of $41.45 and a two-hundred day moving average price of $31.66. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -22.51 and a beta of 1.26.

Tandem Diabetes Care (NASDAQ:TNDMGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The medical device company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.17. The company had revenue of $191.67 million during the quarter, compared to the consensus estimate of $173.06 million. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. Equities analysts predict that Tandem Diabetes Care will post -1.7 EPS for the current year.

Insider Transactions at Tandem Diabetes Care

In other news, Director Dick Allen sold 5,000 shares of Tandem Diabetes Care stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.68, for a total transaction of $258,400.00. Following the sale, the director now directly owns 24,396 shares in the company, valued at approximately $1,260,785.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors have recently added to or reduced their stakes in TNDM. Barclays PLC lifted its holdings in Tandem Diabetes Care by 27.3% during the third quarter. Barclays PLC now owns 84,140 shares of the medical device company’s stock valued at $1,747,000 after purchasing an additional 18,025 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Tandem Diabetes Care by 1.0% in the third quarter. Swiss National Bank now owns 142,000 shares of the medical device company’s stock worth $2,949,000 after buying an additional 1,400 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Tandem Diabetes Care by 10.7% in the third quarter. Janney Montgomery Scott LLC now owns 21,224 shares of the medical device company’s stock worth $441,000 after buying an additional 2,051 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tandem Diabetes Care by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 367,011 shares of the medical device company’s stock worth $7,623,000 after buying an additional 16,586 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 51.7% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock worth $67,000 after buying an additional 1,099 shares in the last quarter.

About Tandem Diabetes Care

(Get Free Report)

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.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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