Robert W. Baird Cuts Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $37.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective dropped by analysts at Robert W. Baird from $39.00 to $37.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical device company’s stock. Robert W. Baird’s price objective points to a potential upside of 9.82% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective for the company. Barclays lifted their price objective on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a report on Wednesday. They issued an “outperform” rating and a $42.00 price objective for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $55.00 price target (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.19.

Tandem Diabetes Care Stock Down 1.6 %

Shares of TNDM stock traded down $0.55 during trading on Thursday, reaching $33.69. The company’s stock had a trading volume of 2,397,022 shares, compared to its average volume of 1,590,934. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -16.11 and a beta of 1.36. The stock’s 50-day moving average price is $39.21 and its 200 day moving average price is $41.88. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $53.69.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of institutional investors have recently modified their holdings of the business. RiverPark Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 15.9% in the 3rd quarter. RiverPark Advisors LLC now owns 12,902 shares of the medical device company’s stock valued at $547,000 after acquiring an additional 1,772 shares during the period. Natixis Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 19.6% in the 3rd quarter. Natixis Advisors LLC now owns 63,706 shares of the medical device company’s stock valued at $2,702,000 after acquiring an additional 10,462 shares during the period. Simplify Asset Management Inc. acquired a new position in Tandem Diabetes Care in the 3rd quarter valued at $4,860,000. Oppenheimer & Co. Inc. increased its stake in Tandem Diabetes Care by 368.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after buying an additional 20,549 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Tandem Diabetes Care by 20.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 59,092 shares of the medical device company’s stock valued at $2,506,000 after buying an additional 9,899 shares during the period.

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.