Tandem Diabetes Care (NASDAQ:TNDM) Given New $55.00 Price Target at Stifel Nicolaus

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective boosted by Stifel Nicolaus from $45.00 to $55.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical device company’s stock.

TNDM has been the subject of several other research reports. Leerink Partnrs raised shares of Tandem Diabetes Care from a market perform rating to an outperform rating in a research report on Thursday, April 25th. StockNews.com raised shares of Tandem Diabetes Care from a sell rating to a hold rating in a research report on Friday, April 19th. Wells Fargo & Company raised shares of Tandem Diabetes Care from an equal weight rating to an overweight rating and increased their price objective for the stock from $21.00 to $45.00 in a research report on Monday, April 29th. Robert W. Baird increased their price objective on shares of Tandem Diabetes Care from $28.00 to $36.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Finally, Barclays increased their price objective on shares of Tandem Diabetes Care from $39.00 to $55.00 and gave the stock an overweight rating in a research report on Monday, May 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $49.73.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $51.39 on Wednesday. The firm has a 50 day simple moving average of $36.78 and a 200-day simple moving average of $28.66. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.81 and a quick ratio of 3.01. The firm has a market cap of $3.32 billion, a PE ratio of -23.68 and a beta of 1.10. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $52.51.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. The company had revenue of $196.80 million for the quarter, compared to analyst estimates of $204.86 million. On average, equities analysts expect that Tandem Diabetes Care will post -1.7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TNDM. Commonwealth Equity Services LLC boosted its stake in shares of Tandem Diabetes Care by 10.1% in the third quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company’s stock valued at $205,000 after purchasing an additional 908 shares during the period. Raymond James & Associates boosted its stake in 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 valued at $836,000 after acquiring an additional 737 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tandem Diabetes Care by 18.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,506 shares of the medical device company’s stock valued at $281,000 after acquiring an additional 2,103 shares during the last quarter. M&T Bank Corp bought a new position in Tandem Diabetes Care during the 3rd quarter valued at $472,000. Finally, Victory Capital Management Inc. boosted its stake in Tandem Diabetes Care by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 98,740 shares of the medical device company’s stock valued at $2,051,000 after acquiring an additional 1,130 shares during the last quarter.

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.