SVB Leerink Increases Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $135.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective hoisted by research analysts at SVB Leerink from $123.00 to $135.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a “market perform” rating on the medical device company’s stock. SVB Leerink’s target price suggests a potential upside of 9.07% from the stock’s previous close.

Several other brokerages have also recently issued reports on TNDM. TheStreet raised shares of Tandem Diabetes Care from a “d+” rating to a “c” rating in a report on Wednesday, August 18th. Zacks Investment Research raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Monday, September 13th. Wells Fargo & Company raised their target price on shares of Tandem Diabetes Care from $112.00 to $121.00 and gave the stock an “equal weight” rating in a report on Thursday, August 5th. Oppenheimer raised their target price on shares of Tandem Diabetes Care from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Finally, Craig Hallum raised their target price on shares of Tandem Diabetes Care from $140.00 to $153.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $130.00.

NASDAQ TNDM opened at $123.77 on Friday. The company has a fifty day simple moving average of $112.36 and a two-hundred day simple moving average of $97.64. The stock has a market cap of $7.80 billion, a P/E ratio of 2,475.90 and a beta of 0.28. Tandem Diabetes Care has a 12-month low of $76.19 and a 12-month high of $130.73. The company has a current ratio of 6.42, a quick ratio of 5.81 and a debt-to-equity ratio of 0.81.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, August 4th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.14. The business had revenue of $172.14 million during the quarter, compared to analysts’ expectations of $143.36 million. Tandem Diabetes Care had a net margin of 1.08% and a return on equity of 3.68%. The business’s quarterly revenue was up 57.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.45) earnings per share. As a group, sell-side analysts forecast that Tandem Diabetes Care will post 0.29 earnings per share for the current year.

In related news, Director Rebecca B. Robertson sold 1,500 shares of the firm’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $107.51, for a total transaction of $161,265.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP James Leal sold 7,135 shares of Tandem Diabetes Care stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $100.00, for a total transaction of $713,500.00. Following the completion of the sale, the senior vice president now owns 10,263 shares in the company, valued at approximately $1,026,300. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,422 shares of company stock worth $11,939,003. 4.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP grew its position in shares of Tandem Diabetes Care by 1.9% in the first quarter. Royce & Associates LP now owns 68,386 shares of the medical device company’s stock valued at $6,035,000 after purchasing an additional 1,300 shares during the period. Northern Trust Corp boosted its position in Tandem Diabetes Care by 2.2% during the first quarter. Northern Trust Corp now owns 301,320 shares of the medical device company’s stock worth $26,592,000 after acquiring an additional 6,478 shares during the last quarter. US Bancorp DE boosted its position in Tandem Diabetes Care by 27.7% during the second quarter. US Bancorp DE now owns 5,427 shares of the medical device company’s stock worth $529,000 after acquiring an additional 1,178 shares during the last quarter. Landscape Capital Management L.L.C. boosted its position in Tandem Diabetes Care by 186.2% during the first quarter. Landscape Capital Management L.L.C. now owns 36,324 shares of the medical device company’s stock worth $3,206,000 after acquiring an additional 23,632 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Tandem Diabetes Care by 9.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 63,323 shares of the medical device company’s stock worth $6,059,000 after acquiring an additional 5,509 shares during the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc engages in the design, development, and commercialization of products for people with insulin-dependent diabetes. Its flagship product, t:slim X2 Insulin Delivery System, operates as a small insulin pump. The company was founded by Paul M. DiPerna on January 27, 2006 and is headquartered in San Diego, CA.

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