Barclays Forecasts Strong Price Appreciation for Tandem Diabetes Care (NASDAQ:TNDM) Stock

Tandem Diabetes Care (NASDAQ:TNDM) had its price target boosted by Barclays from $58.00 to $60.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the medical device company’s stock.

Several other research firms have also issued reports on TNDM. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 target price on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Robert W. Baird reduced their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. UBS Group raised Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $55.00 price target (up from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.25.

Tandem Diabetes Care Stock Up 2.5 %

TNDM stock opened at $31.37 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.38. The stock has a market capitalization of $2.06 billion, a P/E ratio of -16.25 and a beta of 1.36. The business has a 50-day moving average of $38.73 and a 200-day moving average of $41.91. Tandem Diabetes Care has a fifty-two week low of $14.33 and a fifty-two week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.08. The company had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. Tandem Diabetes Care’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.38) earnings per share. On average, sell-side analysts anticipate that Tandem Diabetes Care will post -1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Tandem Diabetes Care by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after buying an additional 30,664 shares during the period. Fred Alger Management LLC grew its holdings in shares of Tandem Diabetes Care by 45.2% in the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after acquiring an additional 677,036 shares in the last quarter. Bellevue Group AG lifted its stake in Tandem Diabetes Care by 2.0% in the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock valued at $71,949,000 after purchasing an additional 39,571 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in Tandem Diabetes Care by 12.2% in the third quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock valued at $54,051,000 after purchasing an additional 138,263 shares during the last quarter. Finally, Chicago Capital LLC lifted its stake in Tandem Diabetes Care by 22.2% in the third quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock valued at $42,543,000 after purchasing an additional 182,085 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.