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

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

TNDM has been the subject of several other research reports. StockNews.com upgraded shares of Tandem Diabetes Care from a sell rating to a hold rating in a report on Friday, April 19th. Stifel Nicolaus upped their target price on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a buy rating in a report on Tuesday, April 23rd. Finally, Citigroup upped their target price on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $39.45.

Tandem Diabetes Care Trading Down 0.9 %

NASDAQ TNDM opened at $35.24 on Thursday. The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $40.74. The stock has a market capitalization of $2.28 billion, a PE ratio of -10.24 and a beta of 1.12. The firm has a 50 day moving average of $30.96 and a two-hundred day moving average of $25.42.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results 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). Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. The firm had revenue of $196.80 million for the quarter, compared to analyst estimates of $204.86 million. As a group, research analysts expect that Tandem Diabetes Care will post -1.62 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors and hedge funds have recently bought and sold shares of TNDM. SG Americas Securities LLC raised its position in Tandem Diabetes Care by 70.9% during the 3rd quarter. SG Americas Securities LLC now owns 23,510 shares of the medical device company’s stock worth $488,000 after buying an additional 9,751 shares during the last quarter. Coronation Fund Managers Ltd. raised its position in Tandem Diabetes Care by 70.8% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 354,904 shares of the medical device company’s stock worth $7,371,000 after buying an additional 147,058 shares during the last quarter. Peregrine Capital Management LLC raised its position in Tandem Diabetes Care by 27.8% during the 3rd quarter. Peregrine Capital Management LLC now owns 243,355 shares of the medical device company’s stock worth $5,054,000 after buying an additional 52,897 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Tandem Diabetes Care by 10.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company’s stock valued at $205,000 after purchasing an additional 908 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Tandem Diabetes Care by 1.9% in the 3rd quarter. Raymond James & Associates now owns 40,264 shares of the medical device company’s stock valued at $836,000 after purchasing an additional 737 shares in the last quarter.

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.