Tandem Diabetes Care (NASDAQ:TNDM) Trading Up 7.9% on Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was up 7.9% on Tuesday after Stifel Nicolaus raised their price target on the stock from $37.00 to $40.00. Stifel Nicolaus currently has a buy rating on the stock. Tandem Diabetes Care traded as high as $34.36 and last traded at $34.24. Approximately 229,124 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,715,144 shares. The stock had previously closed at $31.73.

Several other brokerages have also recently weighed in on TNDM. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Citigroup lifted their target price on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Tandem Diabetes Care currently has an average rating of “Hold” and an average price target of $37.27.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new position in shares of Tandem Diabetes Care in the first quarter worth $8,018,000. New Mexico Educational Retirement Board bought a new position in shares of Tandem Diabetes Care in the first quarter worth $460,000. Arcadia Investment Management Corp MI increased its holdings in shares of Tandem Diabetes Care by 141.6% in the first quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock worth $66,000 after purchasing an additional 1,085 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Tandem Diabetes Care by 1,567.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,635 shares of the medical device company’s stock worth $235,000 after purchasing an additional 6,237 shares during the period. Finally, Diversified Trust Co increased its holdings in shares of Tandem Diabetes Care by 24.6% in the first quarter. Diversified Trust Co now owns 13,173 shares of the medical device company’s stock worth $466,000 after purchasing an additional 2,600 shares during the period.

Tandem Diabetes Care Trading Up 0.4 %

The firm’s fifty day moving average price is $30.51 and its two-hundred day moving average price is $25.18. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.83 and a quick ratio of 3.02.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $196.80 million during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -1.62 earnings per share for the current year.

About Tandem Diabetes Care

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.