Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Price Target at $55.13

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $55.13.

TNDM has been the topic of several recent analyst reports. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective on the stock. Barclays upped their price objective on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price target on the stock. Finally, Robert W. Baird increased their price target on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd.

Institutional Investors Weigh In On Tandem Diabetes Care

Several large investors have recently made changes to their positions in TNDM. Jennison Associates LLC grew its holdings in Tandem Diabetes Care by 98.1% during the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock valued at $90,512,000 after purchasing an additional 1,265,534 shares in the last quarter. Fred Alger Management LLC boosted its stake in Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after acquiring an additional 677,036 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Tandem Diabetes Care by 2,836.2% during the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after acquiring an additional 389,632 shares during the last quarter. Kingdon Capital Management L.L.C. boosted its stake in Tandem Diabetes Care by 153.9% during 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 last quarter. Finally, First Light Asset Management LLC boosted its stake in Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after acquiring an additional 233,405 shares during the last quarter.

Tandem Diabetes Care Trading Up 1.5 %

Shares of NASDAQ TNDM opened at $35.34 on Friday. The company has a quick ratio of 2.38, a current ratio of 3.05 and a debt-to-equity ratio of 1.31. The firm’s 50-day moving average is $41.98 and its two-hundred day moving average is $41.97. Tandem Diabetes Care has a 12-month low of $13.82 and a 12-month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.07. The business had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Research analysts anticipate that Tandem Diabetes Care will post -1.76 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.