Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $25.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target boosted by Morgan Stanley from $23.00 to $25.00 in a report issued on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical device company’s stock.

Several other equities research analysts also recently weighed in on the stock. Sanford C. Bernstein reissued a “market perform” rating and issued a $25.00 target price (up from $18.00) on shares of Tandem Diabetes Care in a research note on Friday, January 9th. Lake Street Capital raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Monday, February 23rd. Robert W. Baird set a $30.00 target price on Tandem Diabetes Care and gave the company an “outperform” rating in a research report on Tuesday, December 16th. Canaccord Genuity Group set a $35.00 target price on Tandem Diabetes Care and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, Mizuho set a $22.00 price objective on Tandem Diabetes Care and gave the company a “neutral” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.11.

Tandem Diabetes Care Trading Down 1.4%

Shares of TNDM stock opened at $23.41 on Monday. The company has a market cap of $1.60 billion, a PE ratio of -7.63 and a beta of 1.63. Tandem Diabetes Care has a 1 year low of $9.98 and a 1 year high of $29.65. The stock’s 50 day simple moving average is $21.42 and its two-hundred day simple moving average is $17.82. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.55 and a quick ratio of 2.02.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $290.38 million for the quarter, compared to the consensus estimate of $277.14 million. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. Research analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Tandem Diabetes Care by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after buying an additional 278,042 shares during the period. 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. Hood River Capital Management LLC grew its holdings in Tandem Diabetes Care by 10.9% during the 2nd quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock worth $47,811,000 after acquiring an additional 252,934 shares in the last quarter. Paradice Investment Management LLC increased its position in Tandem Diabetes Care by 24.3% during the 3rd quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock valued at $26,665,000 after purchasing an additional 429,289 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Tandem Diabetes Care by 42.3% in the 4th quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after purchasing an additional 601,260 shares in the last quarter.

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.