Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective boosted by equities researchers at Canaccord Genuity Group from $58.00 to $59.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 174.67% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Barclays decreased their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group decreased their price objective on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Robert W. Baird dropped their target price on Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday. Citigroup cut Tandem Diabetes Care from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $35.00 to $24.00 in a report on Tuesday, March 4th. Finally, Mizuho initiated coverage on Tandem Diabetes Care in a research report on Thursday, April 10th. They set a “neutral” rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.81.

Tandem Diabetes Care Price Performance

Shares of TNDM opened at $21.48 on Thursday. The business’s 50-day moving average is $18.80 and its two-hundred day moving average is $28.63. The company has a market capitalization of $1.43 billion, a P/E ratio of -11.13 and a beta of 1.52. Tandem Diabetes Care has a fifty-two week low of $15.75 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. During the same period last year, the business earned ($0.65) earnings per share. The firm’s revenue was up 22.3% on a year-over-year basis. Research analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Insiders Place Their Bets

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $18.12 per share, with a total value of $190,948.56. Following the purchase, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at $190,948.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently made changes to their positions in TNDM. JPMorgan Chase & Co. grew its holdings in Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock valued at $8,379,000 after buying an additional 113,355 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Tandem Diabetes Care by 163.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after purchasing an additional 1,101 shares during the period. US Bancorp DE boosted its holdings in Tandem Diabetes Care by 15.2% in the 4th quarter. US Bancorp DE now owns 38,708 shares of the medical device company’s stock valued at $1,394,000 after purchasing an additional 5,108 shares during the last quarter. KBC Group NV grew its stake in shares of Tandem Diabetes Care by 41.5% in the 4th quarter. KBC Group NV now owns 192,479 shares of the medical device company’s stock valued at $6,933,000 after buying an additional 56,461 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Tandem Diabetes Care by 22.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company’s stock worth $236,000 after buying an additional 1,184 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.