Stifel Nicolaus Raises Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $40.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price increased by Stifel Nicolaus from $37.00 to $40.00 in a report published on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical device company’s stock.

Several other equities analysts have also issued reports on TNDM. Citigroup lifted their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. StockNews.com upgraded Tandem Diabetes Care from a sell rating to a hold rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of Hold and an average target price of $39.45.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $35.56 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83. Tandem Diabetes Care has a 12 month low of $13.82 and a 12 month high of $40.74. The stock’s fifty day moving average price is $30.74 and its 200-day moving average price is $25.26.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The company had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. On average, analysts expect that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TNDM. SG Americas Securities LLC increased its stake in shares of Tandem Diabetes Care by 70.9% in the 3rd quarter. SG Americas Securities LLC now owns 23,510 shares of the medical device company’s stock worth $488,000 after acquiring an additional 9,751 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Tandem Diabetes Care by 76.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 6,025 shares of the medical device company’s stock worth $125,000 after acquiring an additional 2,615 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Tandem Diabetes Care during the 3rd quarter worth about $133,000. Coronation Fund Managers Ltd. increased its position in shares of Tandem Diabetes Care by 70.8% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 354,904 shares of the medical device company’s stock worth $7,371,000 after purchasing an additional 147,058 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its position in shares of Tandem Diabetes Care by 11.8% during the 3rd quarter. HighMark Wealth Management LLC now owns 27,170 shares of the medical device company’s stock worth $564,000 after purchasing an additional 2,870 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.