Tandem Diabetes Care (NASDAQ:TNDM) Hits New 1-Year High Following Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares reached a new 52-week high on Friday after Robert W. Baird raised their price target on the stock from $28.00 to $36.00. Robert W. Baird currently has a neutral rating on the stock. Tandem Diabetes Care traded as high as $47.00 and last traded at $46.06, with a volume of 1790113 shares. The stock had previously closed at $36.56.

A number of other analysts also recently weighed in on TNDM. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Citigroup lifted their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Wells Fargo & Company upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $21.00 to $45.00 in a report on Monday, April 29th. Stifel Nicolaus lifted their price objective on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Leerink Partnrs raised shares of Tandem Diabetes Care from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.45.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently made changes to their positions in TNDM. RiverPark Advisors LLC bought a new stake in Tandem Diabetes Care during the fourth quarter worth $27,000. MCF Advisors LLC boosted its holdings in Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after acquiring an additional 445 shares during the last quarter. Signaturefd LLC grew its stake in shares of Tandem Diabetes Care by 871.8% in the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after acquiring an additional 1,517 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of Tandem Diabetes Care by 141.6% in the first 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. Finally, PNC Financial Services Group Inc. lifted its position in shares of Tandem Diabetes Care by 51.7% during the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock valued at $67,000 after purchasing an additional 1,099 shares in the last quarter.

Tandem Diabetes Care Trading Up 22.3 %

The company has a debt-to-equity ratio of 0.91, a current ratio of 3.83 and a quick ratio of 3.02. The firm’s fifty day moving average is $32.29 and its two-hundred day moving average is $26.14. The firm has a market capitalization of $2.89 billion, a PE ratio of -20.61 and a beta of 1.10.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its 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). The firm had revenue of $196.80 million for the quarter, compared to the consensus estimate of $204.86 million. Tandem Diabetes Care had a negative return on equity of 32.33% and a negative net margin of 18.37%. On average, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current fiscal year.

Tandem Diabetes Care Company Profile

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.