Barclays Forecasts Strong Price Appreciation for Tandem Diabetes Care (NASDAQ:TNDM) Stock

Tandem Diabetes Care (NASDAQ:TNDM) had its target price boosted by Barclays from $58.00 to $60.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the medical device company’s stock.

A number of other equities research analysts also recently issued reports on the company. Canaccord Genuity Group lowered their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. The Goldman Sachs Group started coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective on the stock. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective on the stock. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Trading Up 2.5 %

NASDAQ:TNDM opened at $31.37 on Friday. The company has a market cap of $2.06 billion, a P/E ratio of -16.25 and a beta of 1.36. The stock’s fifty day moving average price is $38.73 and its two-hundred day moving average price is $41.91. Tandem Diabetes Care has a 1 year low of $14.33 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.38.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.08. The firm had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.38) earnings per share. As a group, analysts expect that Tandem Diabetes Care will post -1.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Tandem Diabetes Care by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after buying an additional 30,664 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after purchasing an additional 677,036 shares during the period. Bellevue Group AG boosted its holdings in shares of Tandem Diabetes Care by 2.0% during the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after purchasing an additional 39,571 shares during the period. Stephens Investment Management Group LLC boosted its holdings in shares of Tandem Diabetes Care by 12.2% during the third quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock worth $54,051,000 after purchasing an additional 138,263 shares during the period. Finally, Chicago Capital LLC boosted its holdings in shares of Tandem Diabetes Care by 22.2% during the third quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock worth $42,543,000 after purchasing an additional 182,085 shares during the period.

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.