Tandem Diabetes Care (NASDAQ:TNDM) Price Target Cut to $55.00 by Analysts at Royal Bank of Canada

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective lowered by Royal Bank of Canada from $65.00 to $55.00 in a report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical device company’s stock.

TNDM has been the topic of a number of other reports. Canaccord Genuity Group reiterated a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday. Sanford C. Bernstein started coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective for the company. Citigroup dropped their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Barclays increased their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.38.

Tandem Diabetes Care Stock Down 35.2 %

Shares of NASDAQ TNDM opened at $21.75 on Thursday. Tandem Diabetes Care has a one year low of $21.43 and a one year high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm’s 50 day simple moving average is $35.45 and its two-hundred day simple moving average is $36.62. The stock has a market capitalization of $1.43 billion, a P/E ratio of -11.27 and a beta of 1.32.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of institutional investors have recently added to or reduced their stakes in TNDM. Brooklyn Investment Group bought a new position in shares of Tandem Diabetes Care during the third quarter valued at $28,000. Assetmark Inc. bought a new position in shares of Tandem Diabetes Care during the third quarter valued at $29,000. AlphaQuest LLC increased its holdings in shares of Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 541 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after acquiring an additional 748 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new position in shares of Tandem Diabetes Care during the third quarter valued at $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.