Tandem Diabetes Care (NASDAQ:TNDM) Upgraded to Outperform by SVB Leerink

SVB Leerink upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a market perform rating to an outperform rating in a report published on Thursday morning, Marketbeat.com reports. They currently have $45.00 target price on the medical device company’s stock, up from their previous target price of $34.00.

A number of other research analysts have also weighed in on TNDM. Stifel Nicolaus boosted their target price on Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a buy rating in a report on Tuesday. StockNews.com raised Tandem Diabetes Care from a sell rating to a hold rating in a report on Friday, April 19th. Finally, Citigroup boosted their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care currently has an average rating of Moderate Buy and a consensus price target of $39.45.

Tandem Diabetes Care Stock Up 1.3 %

NASDAQ:TNDM opened at $35.56 on Thursday. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -10.34 and a beta of 1.12. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $40.74. The stock’s 50 day moving average price is $30.74 and its two-hundred day moving average price is $25.26. The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91.

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

Institutional Trading of Tandem Diabetes Care

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Tandem Diabetes Care by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company’s stock valued at $207,708,000 after acquiring an additional 18,571 shares during the period. Eminence Capital LP lifted its position in shares of Tandem Diabetes Care by 76.1% during the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after acquiring an additional 2,372,458 shares during the period. Paradice Investment Management LLC lifted its position in shares of Tandem Diabetes Care by 23.9% during the 3rd quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock valued at $31,572,000 after acquiring an additional 293,250 shares during the period. Jennison Associates LLC lifted its position in shares of Tandem Diabetes Care by 14.9% during the 4th quarter. Jennison Associates LLC now owns 1,290,590 shares of the medical device company’s stock valued at $38,176,000 after acquiring an additional 167,675 shares during the period. Finally, GW&K Investment Management LLC bought a new stake in shares of Tandem Diabetes Care during the 4th quarter valued at $36,288,000.

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.