Tandem Diabetes Care (NASDAQ:TNDM) Given New $53.00 Price Target at Barclays

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective lowered by Barclays from $60.00 to $53.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the medical device company’s stock.

Other analysts also recently issued reports about the stock. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research report on Monday, December 2nd. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday. Citigroup decreased their price objective on shares of 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. Canaccord Genuity Group restated a “buy” rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a research report on Wednesday. Finally, Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $35.00 to $25.00 in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

Tandem Diabetes Care Stock Up 1.8 %

Shares of TNDM stock opened at $22.14 on Friday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -11.47 and a beta of 1.32. Tandem Diabetes Care has a one year low of $20.36 and a one year high of $53.69. The company’s fifty day moving average price is $35.22 and its 200-day moving average price is $36.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Tandem Diabetes Care by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after buying an additional 77,451 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of Tandem Diabetes Care by 14.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock worth $98,108,000 after buying an additional 337,026 shares in the last quarter. State Street Corp grew its stake in shares of Tandem Diabetes Care by 3.2% in the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock worth $112,630,000 after buying an additional 83,172 shares in the last quarter. GW&K Investment Management LLC grew its stake in shares of Tandem Diabetes Care by 18.0% in the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock worth $76,488,000 after buying an additional 323,674 shares in the last quarter. Finally, Bellevue Group AG grew its stake in shares of Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after buying an additional 307,624 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.