Tandem Diabetes Care (NASDAQ:TNDM) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Tandem Diabetes Care (NASDAQ:TNDM) had its target price increased by equities researchers at Stifel Nicolaus from $16.00 to $20.00 in a research report issued on Wednesday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the medical device company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 5.60% from the company’s current price.

TNDM has been the subject of several other research reports. Robert W. Baird set a $30.00 price target on Tandem Diabetes Care and gave the stock an “outperform” rating in a report on Tuesday, December 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Tandem Diabetes Care in a report on Friday, January 9th. Canaccord Genuity Group set a $35.00 target price on shares of Tandem Diabetes Care and gave the company a “buy” rating in a report on Wednesday, December 17th. Morgan Stanley set a $23.00 price target on shares of Tandem Diabetes Care and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Finally, Wall Street Zen raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.35.

Tandem Diabetes Care Trading Down 0.3%

TNDM opened at $18.94 on Wednesday. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $37.71. The firm has a market capitalization of $1.28 billion, a PE ratio of -6.21 and a beta of 1.68. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90. The company’s 50-day moving average is $21.17 and its 200 day moving average is $16.73.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.31). The business had revenue of $249.25 million during the quarter, compared to the consensus estimate of $235.80 million. Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS. As a group, research analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNDM. Caitong International Asset Management Co. Ltd grew its position in shares of Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 1,470 shares during the period. Quarry LP lifted its stake in Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 3,558 shares during the last quarter. CWM LLC lifted its stake in Tandem Diabetes Care by 262.6% in the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after purchasing an additional 2,025 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Tandem Diabetes Care by 270.3% during the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 3,468 shares during the period. Finally, Aster Capital Management DIFC Ltd increased its position in Tandem Diabetes Care by 485.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock worth $63,000 after buying an additional 4,269 shares during the last quarter.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.