Morgan Stanley Upgrades Tandem Diabetes Care (NASDAQ:TNDM) to Overweight

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, MarketBeat Ratings reports. The firm currently has a $45.00 price objective on the medical device company’s stock. Morgan Stanley’s target price would suggest a potential upside of 46.91% from the company’s current price.

A number of other brokerages have also issued reports on TNDM. Sanford C. Bernstein initiated coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target on the stock. Barclays lifted their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. 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 target on the stock. Finally, Royal Bank of Canada initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective for the company. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $30.63 on Monday. 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 stock has a market capitalization of $2.01 billion, a PE ratio of -15.87 and a beta of 1.36. Tandem Diabetes Care has a fifty-two week low of $18.45 and a fifty-two week high of $53.69. The company has a fifty day moving average of $34.88 and a two-hundred day moving average of $40.74.

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 for the quarter, topping the consensus estimate 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 the consensus estimate of $224.14 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. As a group, research analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now directly owns 195,190 shares in the company, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

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