Tandem Diabetes Care (NASDAQ:TNDM) Raised to “Outperform” at Leerink Partnrs

Leerink Partnrs upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a market perform rating to an outperform rating in a report published on Thursday, Zacks.com reports.

Other equities analysts have also issued research reports about the stock. StockNews.com upgraded shares of Tandem Diabetes Care from a sell rating to a hold rating in a research report on Friday, April 19th. Stifel Nicolaus increased their target price on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Citigroup increased their target price on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. Finally, SVB Leerink upgraded shares of Tandem Diabetes Care from a market perform rating to an outperform rating and increased their target price for the stock from $34.00 to $45.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of Moderate Buy and an average target price of $39.45.

Tandem Diabetes Care Price Performance

TNDM opened at $35.24 on Thursday. The firm has a market cap of $2.28 billion, a P/E ratio of -10.24 and a beta of 1.12. The firm has a 50-day moving average of $30.96 and a 200 day moving average of $25.42. 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 fifty-two week low of $13.82 and a fifty-two week high of $40.74.

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

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Tandem Diabetes Care by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company’s stock valued at $207,708,000 after purchasing an additional 18,571 shares in the last quarter. Eminence Capital LP raised its stake in shares of 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 worth $114,028,000 after acquiring an additional 2,372,458 shares in the last quarter. Paradice Investment Management LLC raised its stake in shares of 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 worth $31,572,000 after acquiring an additional 293,250 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Tandem Diabetes Care by 14.9% during the fourth quarter. Jennison Associates LLC now owns 1,290,590 shares of the medical device company’s stock worth $38,176,000 after acquiring an additional 167,675 shares in the last quarter. Finally, GW&K Investment Management LLC purchased a new position in shares of Tandem Diabetes Care during the fourth quarter worth approximately $36,288,000.

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.