Tandem Diabetes Care (NASDAQ:TNDM) Price Target Increased to $39.00 by Analysts at Robert W. Baird

Tandem Diabetes Care (NASDAQ:TNDM) had its target price hoisted by Robert W. Baird from $36.00 to $39.00 in a report issued on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the medical device company’s stock.

Several other research analysts have also commented on the company. Leerink Partnrs raised Tandem Diabetes Care from a market perform rating to an outperform rating in a report on Thursday, April 25th. Stifel Nicolaus raised their price objective on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the company a buy rating in a research report on Wednesday, May 22nd. Citigroup upgraded shares of Tandem Diabetes Care from a neutral rating to a buy rating and upped their target price for the stock from $40.00 to $57.00 in a research report on Wednesday, May 22nd. Redburn Atlantic assumed coverage on Tandem Diabetes Care in a research report on Thursday, May 30th. They set a buy rating and a $60.00 price target on the stock. Finally, SVB Leerink raised Tandem Diabetes Care from a market perform rating to an outperform rating and lifted their price target for the stock from $34.00 to $45.00 in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $52.75.

Tandem Diabetes Care Stock Up 18.3 %

Shares of NASDAQ TNDM opened at $41.67 on Friday. The company has a quick ratio of 3.01, a current ratio of 3.81 and a debt-to-equity ratio of 1.43. The company has a market cap of $2.69 billion, a P/E ratio of -19.20 and a beta of 1.28. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $53.69. The business has a 50-day simple moving average of $44.18 and a two-hundred day simple moving average of $36.21.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 39.52%. The business had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. During the same quarter in the prior year, the firm posted ($0.30) EPS. Tandem Diabetes Care’s revenue was up 13.3% on a year-over-year basis. Research analysts anticipate that Tandem Diabetes Care will post -1.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dick Allen sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.68, for a total transaction of $258,400.00. Following the completion of the transaction, the director now directly owns 24,396 shares in the company, valued at $1,260,785.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV raised its stake in shares of Tandem Diabetes Care by 256.1% in the fourth quarter. KBC Group NV now owns 239,944 shares of the medical device company’s stock worth $7,098,000 after purchasing an additional 172,570 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Tandem Diabetes Care by 1,481.5% during the 1st quarter. BNP Paribas Financial Markets now owns 145,812 shares of the medical device company’s stock valued at $5,163,000 after acquiring an additional 136,592 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Tandem Diabetes Care by 79.5% during the 4th quarter. Russell Investments Group Ltd. now owns 247,325 shares of the medical device company’s stock valued at $7,316,000 after acquiring an additional 109,505 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Tandem Diabetes Care in the first quarter worth approximately $540,000. Finally, SG Americas Securities LLC purchased a new position in shares of Tandem Diabetes Care during the first quarter valued at approximately $5,227,000.

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.