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

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by equities researchers at SVB Leerink from a “market perform” rating to an “outperform” rating in a report issued on Thursday, FinViz reports. The brokerage currently has a $45.00 target price on the medical device company’s stock, up from their previous target price of $34.00. SVB Leerink’s target price indicates a potential upside of 28.13% from the stock’s current price.

TNDM has been the topic of several other reports. Stifel Nicolaus lifted their price objective on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Citigroup boosted their price target on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.45.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $35.12 on Thursday. The stock has a market capitalization of $2.27 billion, a P/E ratio of -10.21 and a beta of 1.12. Tandem Diabetes Care has a 1 year low of $13.82 and a 1 year high of $40.74. The business’s fifty day moving average is $30.51 and its two-hundred day moving average 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 posted 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 analysts’ expectations of $204.86 million. On average, research analysts forecast that Tandem Diabetes Care will post -1.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Tandem Diabetes Care by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company’s stock worth $207,708,000 after purchasing an additional 18,571 shares in the last quarter. Eminence Capital LP lifted its position in 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 worth $114,028,000 after acquiring an additional 2,372,458 shares during the last quarter. Paradice Investment Management LLC lifted its position in 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 worth $31,572,000 after acquiring an additional 293,250 shares during the last quarter. Jennison Associates LLC raised its position in shares of Tandem Diabetes Care by 14.9% during the fourth quarter. Jennison Associates LLC now owns 1,290,590 shares of the medical device company’s stock valued at $38,176,000 after buying an additional 167,675 shares during the last quarter. Finally, GW&K Investment Management LLC acquired a new position in shares of Tandem Diabetes Care during the fourth quarter valued at about $36,288,000.

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.