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

Canaccord Genuity Group reiterated their buy rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report released on Wednesday morning,Benzinga reports. They currently have a $63.00 target price on the medical device company’s stock.

A number of other research firms have also issued reports on TNDM. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a report on Monday, December 2nd. Robert W. Baird lowered their price objective on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price on the stock. Barclays lifted their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Citigroup reduced 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 report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $33.59 on Wednesday. The firm has a 50 day moving average of $35.44 and a two-hundred day moving average of $36.64. The stock has a market capitalization of $2.21 billion, a PE ratio of -17.40 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a 52 week low of $25.78 and a 52 week high of $53.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bellevue Group AG boosted its stake in shares of Tandem Diabetes Care by 19.9% during the third 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 during the period. JPMorgan Chase & Co. raised 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 valued at $8,379,000 after acquiring an additional 113,355 shares during the last quarter. MetLife Investment Management LLC lifted its position in Tandem Diabetes Care by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock worth $1,587,000 after acquiring an additional 21,086 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Tandem Diabetes Care by 368.5% in the 3rd 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 during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Tandem Diabetes Care by 32.5% in the third 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 purchasing an additional 66,687 shares during the period.

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.