Tandem Diabetes Care (NASDAQ:TNDM) Price Target Increased to $55.00 by Analysts at Barclays

Tandem Diabetes Care (NASDAQ:TNDM) had its price target raised by Barclays from $39.00 to $55.00 in a research report sent to investors on Monday, Benzinga reports. Barclays currently has an overweight rating on the medical device company’s stock.

A number of other analysts have also recently weighed in on TNDM. Wells Fargo & Company upgraded Tandem Diabetes Care from an equal weight rating to an overweight rating and raised their price target for the company from $21.00 to $45.00 in a research note on Monday, April 29th. Piper Sandler reissued an overweight rating and set a $50.00 target price (up previously from $35.00) on shares of Tandem Diabetes Care in a research report on Friday. Robert W. Baird increased their price target on shares of Tandem Diabetes Care from $28.00 to $36.00 and gave the company a neutral rating in a research note on Friday. Stifel Nicolaus boosted 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, April 23rd. Finally, SVB Leerink upgraded shares of Tandem Diabetes Care from a market perform rating to an outperform rating and upped their target price for the company from $34.00 to $45.00 in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $43.80.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $43.50 on Monday. The firm has a 50 day moving average of $32.58 and a two-hundred day moving average of $26.35. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.81 and a quick ratio of 3.01. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $47.00.

Tandem Diabetes Care (NASDAQ:TNDM) last issued 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 company 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 34.38% and a negative net margin of 18.37%. On average, equities analysts predict 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 hedge funds have recently added to or reduced their stakes in the stock. MCF Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 79.3% in the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 445 shares during the period. Van ECK Associates Corp lifted its stake in shares of Tandem Diabetes Care by 8.6% in the 4th quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company’s stock worth $175,000 after acquiring an additional 467 shares during the period. Diversified Trust Co lifted its stake in shares of Tandem Diabetes Care by 5.6% in the 4th quarter. Diversified Trust Co now owns 10,573 shares of the medical device company’s stock worth $313,000 after acquiring an additional 564 shares during the period. Raymond James & Associates boosted its holdings in shares of Tandem Diabetes Care by 1.9% in the third quarter. Raymond James & Associates now owns 40,264 shares of the medical device company’s stock valued at $836,000 after acquiring an additional 737 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Tandem Diabetes Care by 10.1% during the third quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company’s stock worth $205,000 after acquiring an additional 908 shares during the period.

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.