Tandem Diabetes Care (NASDAQ:TNDM) Upgraded by Stifel Nicolaus to “Buy”

Stifel Nicolaus upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat.com reports. Stifel Nicolaus currently has $37.00 price target on the medical device company’s stock, up from their previous price target of $24.00.

Other research analysts have also issued reports about the company. Citigroup lifted their target price on Tandem Diabetes Care from $25.00 to $31.00 and gave the company a neutral rating in a report on Friday, March 15th. StockNews.com upgraded Tandem Diabetes Care from a sell rating to a hold rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $36.36.

Tandem Diabetes Care Price Performance

TNDM stock opened at $35.41 on Tuesday. The business has a fifty day moving average of $26.75 and a two-hundred day moving average of $23.58. 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 stock has a market cap of $2.32 billion, a price-to-earnings ratio of -10.29 and a beta of 1.08. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week high of $43.51.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. As a group, research analysts anticipate that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TNDM. RiverPark Advisors LLC acquired a new stake in Tandem Diabetes Care in the 4th quarter valued at $27,000. State of Wyoming increased its holdings in Tandem Diabetes Care by 45.8% in the 4th quarter. State of Wyoming now owns 821 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 258 shares in the last quarter. Signaturefd LLC increased its holdings in Tandem Diabetes Care by 871.8% in the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock valued at $50,000 after purchasing an additional 1,517 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Tandem Diabetes Care by 51.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock valued at $67,000 after purchasing an additional 1,099 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Tandem Diabetes Care in the 4th quarter valued at $73,000.

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.