Tandem Diabetes Care (NASDAQ:TNDM) Lifted to Outperform at Leerink Partnrs

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by equities research analysts at Leerink Partnrs from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

Other analysts also recently issued reports about the company. Stifel Nicolaus increased their price objective on Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup increased their price objective on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. StockNews.com raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, SVB Leerink raised Tandem Diabetes Care from a “market perform” rating to an “outperform” rating and increased their price target for the company from $34.00 to $45.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.45.

Tandem Diabetes Care Stock Up 1.3 %

Shares of NASDAQ:TNDM opened at $35.56 on Thursday. The business’s 50 day simple moving average is $30.74 and its two-hundred day simple moving average is $25.26. The firm has a market cap of $2.30 billion, a P/E ratio of -10.34 and a beta of 1.12. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week high of $40.74.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. As a group, research analysts forecast that Tandem Diabetes Care will post -1.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently bought and sold shares of the company. Eminence Capital LP boosted its stake in Tandem Diabetes Care by 76.1% during the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after buying an additional 2,372,458 shares during the period. GW&K Investment Management LLC purchased a new stake in Tandem Diabetes Care during the fourth quarter valued at about $36,288,000. Jennison Associates LLC raised its position in Tandem Diabetes Care by 252.6% during the third quarter. Jennison Associates LLC now owns 1,122,915 shares of the medical device company’s stock valued at $23,323,000 after purchasing an additional 804,488 shares in the last quarter. Chicago Capital LLC raised its position in Tandem Diabetes Care by 699.8% during the third quarter. Chicago Capital LLC now owns 904,410 shares of the medical device company’s stock valued at $18,785,000 after purchasing an additional 791,336 shares in the last quarter. Finally, Paradice Investment Management LLC raised its position in Tandem Diabetes Care by 23.9% during the third quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company’s stock valued at $31,572,000 after purchasing an additional 293,250 shares in the last quarter.

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.