Lake Street Capital Increases Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $75.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective upped by Lake Street Capital from $60.00 to $75.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Lake Street Capital’s price objective would indicate a potential upside of 50.97% from the company’s current price.

TNDM has been the subject of a number of other reports. Barclays increased their target price on shares of Tandem Diabetes Care from $39.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Stifel Nicolaus lifted their price target on Tandem Diabetes Care from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $50.00 target price (up previously from $35.00) on shares of Tandem Diabetes Care in a research report on Friday, May 3rd. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Wells Fargo & Company upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $21.00 to $45.00 in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.73.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $49.68 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 market cap of $3.21 billion, a price-to-earnings ratio of -22.89 and a beta of 1.10. Tandem Diabetes Care has a one year low of $13.82 and a one year high of $52.51. 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 (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.17. The company had revenue of $191.67 million for the quarter, compared to analysts’ expectations of $173.06 million. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. Research analysts predict that Tandem Diabetes Care will post -1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eminence Capital LP increased its position in shares of Tandem Diabetes Care by 76.1% during the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock worth $114,028,000 after purchasing an additional 2,372,458 shares in the last quarter. Jennison Associates LLC grew its position in Tandem Diabetes Care by 98.1% during the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after buying an additional 1,265,534 shares during the period. GW&K Investment Management LLC acquired a new position in Tandem Diabetes Care in the 4th quarter worth about $36,288,000. Kingdon Capital Management L.L.C. grew its stake in Tandem Diabetes Care by 153.9% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock valued at $17,460,000 after acquiring an additional 298,880 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Tandem Diabetes Care in the first quarter valued at approximately $8,018,000.

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.