Tandem Diabetes Care (NASDAQ:TNDM) Trading Up 3.3% – Time to Buy?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares shot up 3.3% on Monday . The company traded as high as $32.16 and last traded at $32.04. 183,168 shares were traded during trading, a decline of 80% from the average session volume of 914,348 shares. The stock had previously closed at $31.00.

Wall Street Analysts Forecast Growth

TNDM has been the topic of several research reports. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Monday, December 2nd. Canaccord Genuity Group lowered their target price on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. 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 raised their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Citigroup decreased their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.81.

Tandem Diabetes Care Stock Performance

The firm has a market capitalization of $2.17 billion, a PE ratio of -17.11 and a beta of 1.32. The business’s fifty day simple moving average is $35.48 and its 200-day simple moving average is $36.70. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at about $28,000. Assetmark Inc. bought a new position in Tandem Diabetes Care during the 3rd quarter valued at about $29,000. AlphaQuest LLC raised its position in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after purchasing an additional 541 shares during the period. Jones Financial Companies Lllp lifted its stake in Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after purchasing an additional 748 shares during the last quarter. Finally, McIlrath & Eck LLC purchased a new position in shares of Tandem Diabetes Care during the third quarter valued at approximately $52,000.

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.