Tandem Diabetes Care (NASDAQ:TNDM) Raised to “Overweight” at Morgan Stanley

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Monday, Marketbeat Ratings reports. The firm presently has a $45.00 target price on the medical device company’s stock. Morgan Stanley’s target price indicates a potential upside of 34.85% from the company’s current price.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective for the company. Sanford C. Bernstein began coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target for the company. Robert W. Baird lowered their price objective on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Barclays lifted their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Canaccord Genuity Group reduced their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $33.37 on Monday. Tandem Diabetes Care has a 52 week low of $20.52 and a 52 week high of $53.69. The company has a 50-day simple moving average of $34.38 and a 200 day simple moving average of $40.54. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -17.29 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.08. The business had revenue of $243.97 million during 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 firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) EPS. On average, sell-side analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Insider Activity at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the director now directly owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TNDM. Brooklyn Investment Group acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth approximately $28,000. Assetmark Inc. acquired a new position in shares of Tandem Diabetes Care during the third quarter worth $29,000. ORG Wealth Partners LLC bought a new stake in shares of Tandem Diabetes Care in the third quarter worth $30,000. ORG Partners LLC acquired a new stake in Tandem Diabetes Care in the second quarter valued at $31,000. Finally, Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care during the 3rd quarter worth $50,000.

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.