Tandem Diabetes Care’s (TNDM) Buy Rating Reiterated at Canaccord Genuity Group

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $63.00 target price on the medical device company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 86.13% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Barclays increased their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a report on Monday, December 2nd. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price on the stock. Citigroup cut their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Robert W. Baird cut their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.25.

Tandem Diabetes Care Trading Up 1.5 %

Tandem Diabetes Care stock traded up $0.51 during trading hours on Wednesday, reaching $33.85. The company had a trading volume of 656,100 shares, compared to its average volume of 967,286. The company has a 50-day moving average price of $35.44 and a 200 day moving average price of $36.64. Tandem Diabetes Care has a 12-month low of $25.78 and a 12-month 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 has a market cap of $2.22 billion, a price-to-earnings ratio of -17.54 and a beta of 1.32.

Hedge Funds Weigh In On Tandem Diabetes Care

Several large investors have recently bought and sold shares of TNDM. Bellevue Group AG lifted its holdings in Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after purchasing an additional 307,624 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 worth $8,379,000 after purchasing an additional 113,355 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Tandem Diabetes Care by 129.1% in the third quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock valued at $1,587,000 after purchasing an additional 21,086 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Tandem Diabetes Care by 368.5% in the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after purchasing an additional 20,549 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Tandem Diabetes Care by 32.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock valued at $11,540,000 after acquiring an additional 66,687 shares during the period.

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.