Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives $45.38 Average Price Target from Analysts

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $45.38.

Several research analysts have weighed in on the company. Morgan Stanley lowered Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $45.00 to $22.00 in a research report on Wednesday, March 5th. The Goldman Sachs Group lowered their price target on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Royal Bank of Canada lowered their price target on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group reiterated a “buy” rating and set a $63.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd.

Tandem Diabetes Care Stock Up 2.8 %

NASDAQ:TNDM opened at $20.62 on Monday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -10.68 and a beta of 1.45. Tandem Diabetes Care has a twelve month low of $17.64 and a twelve month high of $53.69. The stock’s 50 day moving average price is $30.35 and its two-hundred day moving average price is $34.11. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Insider Activity at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos purchased 10,538 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the purchase, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at $190,948.56. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tandem Diabetes Care

Several institutional investors have recently added to or reduced their stakes in TNDM. Hood River Capital Management LLC acquired a new position in Tandem Diabetes Care in the 4th quarter valued at $46,035,000. Jacobs Levy Equity Management Inc. raised its holdings in Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock valued at $59,830,000 after acquiring an additional 1,086,337 shares in the last quarter. Brown Advisory Inc. acquired a new position in Tandem Diabetes Care in the 4th quarter valued at $32,889,000. Park West Asset Management LLC raised its holdings in Tandem Diabetes Care by 49.5% in the 4th quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company’s stock valued at $57,632,000 after acquiring an additional 530,000 shares in the last quarter. Finally, Baillie Gifford & Co. raised its holdings in Tandem Diabetes Care by 235.7% in the 4th quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock valued at $26,875,000 after acquiring an additional 523,843 shares in 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.