Tandem Diabetes Care (NASDAQ:TNDM) Upgraded to Outperform by SVB Leerink

SVB Leerink upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a market perform rating to an outperform rating in a report issued on Thursday, MarketBeat reports. SVB Leerink currently has $45.00 price target on the medical device company’s stock, up from their prior price target of $34.00.

A number of other analysts also recently issued reports on TNDM. Stifel Nicolaus raised their target price on Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a buy rating in a research report on Tuesday. StockNews.com raised Tandem Diabetes Care from a sell rating to a hold rating in a research report on Friday, April 19th. Finally, Citigroup raised their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $39.45.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $35.56 on Thursday. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -10.34 and a beta of 1.12. The stock has a 50 day moving average of $30.74 and a 200 day moving average of $25.26. Tandem Diabetes Care has a 12 month low of $13.82 and a 12 month high of $40.74.

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

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently made changes to their positions in the stock. RiverPark Advisors LLC bought a new stake in Tandem Diabetes Care during the fourth quarter valued at $27,000. MCF Advisors LLC boosted its stake in Tandem Diabetes Care by 79.3% during the first quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after buying an additional 445 shares during the period. Signaturefd LLC boosted its stake in Tandem Diabetes Care by 871.8% during the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock valued at $50,000 after buying an additional 1,517 shares during the period. Arcadia Investment Management Corp MI boosted its stake in Tandem Diabetes Care by 141.6% during the first quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after buying an additional 1,085 shares during the period. Finally, GAMMA Investing LLC bought a new stake in Tandem Diabetes Care during the fourth quarter valued at $73,000.

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.