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

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares rose 7.9% during trading 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 traded 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 equities research analysts have also recently commented on the stock. Citigroup boosted their price objective on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $37.27.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNDM. MCF Advisors LLC increased its stake in shares of Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Tandem Diabetes Care by 8.6% during the 4th quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company’s stock worth $175,000 after purchasing an additional 467 shares during the last quarter. Diversified Trust Co increased its stake in shares of Tandem Diabetes Care by 5.6% during the 4th quarter. Diversified Trust Co now owns 10,573 shares of the medical device company’s stock worth $313,000 after purchasing an additional 564 shares during the last quarter. Raymond James & Associates increased its stake in shares of Tandem Diabetes Care by 1.9% during the 3rd quarter. Raymond James & Associates now owns 40,264 shares of the medical device company’s stock worth $836,000 after purchasing an additional 737 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Tandem Diabetes Care by 10.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company’s stock worth $205,000 after purchasing an additional 908 shares during the last quarter.

Tandem Diabetes Care Trading Up 0.4 %

The firm’s 50 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 quick ratio of 3.02 and a current ratio of 3.83.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data 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). Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. The firm had revenue of $196.80 million for the quarter, compared to analyst estimates of $204.86 million. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

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.