Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up After Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares gapped up before the market opened on Wednesday after Lake Street Capital raised their price target on the stock from $60.00 to $75.00. The stock had previously closed at $49.32, but opened at $52.15. Lake Street Capital currently has a buy rating on the stock. Tandem Diabetes Care shares last traded at $51.40, with a volume of 168,192 shares.

TNDM has been the topic of a number of other reports. Piper Sandler reiterated an “overweight” rating and issued a $50.00 price objective (up from $35.00) on shares of Tandem Diabetes Care in a research report on Friday, May 3rd. Citigroup upgraded shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $57.00 in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays lifted their price objective 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. Finally, StockNews.com raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TNDM. RiverPark Advisors LLC acquired a new position in Tandem Diabetes Care in the 4th quarter valued at about $27,000. Headlands Technologies LLC acquired a new position in Tandem Diabetes Care in the 1st quarter valued at about $35,000. MCF Advisors LLC raised its stake in Tandem Diabetes Care by 79.3% in the 1st 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 last quarter. Signaturefd LLC raised its stake in Tandem Diabetes Care by 871.8% in the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock valued at $50,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Arcadia Investment Management Corp MI raised its stake in Tandem Diabetes Care by 141.6% in the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after purchasing an additional 1,085 shares during the last quarter.

Tandem Diabetes Care Stock Down 3.3 %

The firm’s 50 day moving average is $36.78 and its two-hundred day moving average is $28.66. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -22.89 and a beta of 1.10. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.17. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. The firm had revenue of $191.67 million during the quarter, compared to the consensus estimate of $173.06 million. On average, sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.7 EPS for the current year.

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.