Tandem Diabetes Care (NASDAQ:TNDM) Shares Gap Up on Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price gapped up prior to trading on Tuesday after Mizuho raised their price target on the stock from $18.00 to $21.00. The stock had previously closed at $22.11, but opened at $24.46. Mizuho currently has a neutral rating on the stock. Tandem Diabetes Care shares last traded at $22.9050, with a volume of 843,664 shares.

A number of other equities analysts have also weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price target on shares of Tandem Diabetes Care in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, October 8th. Morgan Stanley set a $23.00 price target on Tandem Diabetes Care and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Barclays raised their price target on Tandem Diabetes Care from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Finally, Citigroup upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.50.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors have recently bought and sold shares of TNDM. Amalgamated Bank lifted its holdings in shares of Tandem Diabetes Care by 3.5% in the 3rd quarter. Amalgamated Bank now owns 19,617 shares of the medical device company’s stock worth $238,000 after buying an additional 657 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Tandem Diabetes Care by 8.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,101 shares of the medical device company’s stock valued at $319,000 after acquiring an additional 1,384 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Tandem Diabetes Care by 10.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,299 shares of the medical device company’s stock worth $285,000 after acquiring an additional 1,399 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after acquiring an additional 1,470 shares in the last quarter. Finally, State of Wyoming increased its position in Tandem Diabetes Care by 49.1% during the 1st quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock valued at $86,000 after purchasing an additional 1,471 shares during the period.

Tandem Diabetes Care Stock Performance

The firm’s fifty day moving average price is $17.78 and its 200 day moving average price is $16.06. The firm has a market cap of $1.52 billion, a P/E ratio of -7.35 and a beta of 1.68. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.31). The company had revenue of $249.25 million for the quarter, compared to analyst estimates of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. Tandem Diabetes Care’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. Sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

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.