Analysts Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Target Price at $54.25

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned an average recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $54.25.

TNDM has been the topic of a number of analyst reports. Canaccord Genuity Group cut their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Wells Fargo & Company upped their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price target for the company. Finally, Barclays raised their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $28.59 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care has a fifty-two week low of $17.33 and a fifty-two week high of $53.69. The firm has a market capitalization of $1.88 billion, a PE ratio of -14.93 and a beta of 1.36. The stock’s fifty day moving average is $38.05 and its 200 day moving average is $41.76.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. During the same period in the previous year, the company earned ($0.38) EPS. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Tandem Diabetes Care will post -1.73 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Tandem Diabetes Care by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after purchasing an additional 30,664 shares during the last quarter. Fred Alger Management LLC raised its position in Tandem Diabetes Care by 45.2% during the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after buying an additional 677,036 shares during the last quarter. Bellevue Group AG lifted its stake in Tandem Diabetes Care by 2.0% during the 1st quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock valued at $71,949,000 after acquiring an additional 39,571 shares during the period. Stephens Investment Management Group LLC lifted its stake in Tandem Diabetes Care by 12.2% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock valued at $54,051,000 after acquiring an additional 138,263 shares during the period. Finally, Chicago Capital LLC boosted its holdings in shares of Tandem Diabetes Care by 22.2% in the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock valued at $42,543,000 after acquiring an additional 182,085 shares during the last quarter.

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.