Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $21.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price lifted by Mizuho from $18.00 to $21.00 in a research note published on Wednesday morning, MarketBeat.com reports. Mizuho currently has a neutral rating on the medical device company’s stock.

A number of other analysts have also issued reports on TNDM. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, October 8th. Robert W. Baird set a $30.00 price target on Tandem Diabetes Care and gave the stock an “outperform” rating in a research report on Tuesday. Baird R W upgraded Tandem Diabetes Care from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Citigroup increased their target price on Tandem Diabetes Care from $16.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Wall Street Zen upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Hold” and an average target price of $23.94.

Tandem Diabetes Care Trading Up 1.2%

NASDAQ TNDM opened at $22.07 on Wednesday. The firm’s 50-day moving average is $18.09 and its two-hundred day moving average is $16.11. Tandem Diabetes Care has a 12 month low of $9.98 and a 12 month high of $38.28. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90. The stock has a market capitalization of $1.50 billion, a P/E ratio of -7.24 and a beta of 1.68.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.31). The business had revenue of $249.25 million during the quarter, compared to analysts’ expectations of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the business earned ($0.35) earnings per share. On average, sell-side analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several large investors have recently bought and sold shares of TNDM. Sessa Capital IM L.P. purchased a new position in shares of Tandem Diabetes Care in the 1st quarter valued at about $85,574,000. Freestone Grove Partners LP acquired a new stake in Tandem Diabetes Care in the third quarter valued at approximately $22,706,000. Ophir Asset Management Pty Ltd purchased a new position in Tandem Diabetes Care in the second quarter worth approximately $27,307,000. ArrowMark Colorado Holdings LLC grew its holdings in Tandem Diabetes Care by 36.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after acquiring an additional 991,649 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in Tandem Diabetes Care during the 3rd quarter worth approximately $6,191,000.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.