Robert W. Baird Cuts Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $33.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target decreased by equities researchers at Robert W. Baird from $37.00 to $33.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the medical device company’s stock. Robert W. Baird’s target price indicates a potential downside of 1.76% from the company’s current price.

A number of other research analysts also recently commented on the company. Barclays increased their target price 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. Canaccord Genuity Group restated a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a report on Wednesday. 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 report on Monday, December 2nd. Citigroup decreased their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Tandem Diabetes Care Stock Up 0.7 %

NASDAQ TNDM opened at $33.59 on Thursday. 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 company has a market capitalization of $2.21 billion, a P/E ratio of -17.40 and a beta of 1.32. Tandem Diabetes Care has a one year low of $25.78 and a one year high of $53.69. The stock has a 50 day moving average price of $35.44 and a 200-day moving average price of $36.64.

Institutional Investors Weigh In On Tandem Diabetes Care

Several large investors have recently modified their holdings of the business. Bellevue Group AG increased its holdings in Tandem Diabetes Care by 19.9% during the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after buying an additional 307,624 shares during the period. JPMorgan Chase & Co. boosted its position in Tandem Diabetes Care by 134.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock valued at $8,379,000 after acquiring an additional 113,355 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Tandem Diabetes Care by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock valued at $1,587,000 after acquiring an additional 21,086 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of 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 worth $1,108,000 after acquiring an additional 20,549 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Tandem Diabetes Care by 32.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock worth $11,540,000 after purchasing an additional 66,687 shares during the last quarter.

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.