Lake Street Capital Raises Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $75.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price hoisted by Lake Street Capital from $60.00 to $75.00 in a research report report published on Wednesday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the medical device company’s stock.

A number of other equities research analysts have also weighed in on the stock. Leerink Partnrs upgraded shares of Tandem Diabetes Care from a market perform rating to an outperform rating in a research note on Thursday, April 25th. Barclays boosted their price objective on shares of Tandem Diabetes Care from $39.00 to $55.00 and gave the company an overweight rating in a research report on Monday, May 6th. Wells Fargo & Company raised shares of Tandem Diabetes Care from an equal weight rating to an overweight rating and boosted their price objective for the company from $21.00 to $45.00 in a research report on Monday, April 29th. SVB Leerink raised shares of Tandem Diabetes Care from a market perform rating to an outperform rating and boosted their price objective for the company from $34.00 to $45.00 in a research report on Thursday, April 25th. Finally, Stifel Nicolaus upped their target price on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the stock a buy rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $49.73.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $51.73 on Wednesday. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $52.51. The firm has a market cap of $3.34 billion, a P/E ratio of -23.84 and a beta of 1.10. The company has a 50 day moving average of $37.68 and a 200 day moving average of $29.06. The company has a quick ratio of 3.01, a current ratio of 3.81 and a debt-to-equity ratio of 1.43.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, May 2nd. The medical device company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.17. Tandem Diabetes Care had a negative net margin of 18.37% and a negative return on equity of 34.38%. The company had revenue of $191.67 million during the quarter, compared to analyst estimates of $173.06 million. As a group, research analysts expect that Tandem Diabetes Care will post -1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RiverPark Advisors LLC bought a new position in shares of Tandem Diabetes Care during the 4th quarter valued at about $27,000. Headlands Technologies LLC bought a new position in shares of Tandem Diabetes Care during the 1st quarter valued at about $35,000. MCF Advisors LLC boosted its holdings in shares of Tandem Diabetes Care by 79.3% during the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock valued at $36,000 after purchasing an additional 445 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Tandem Diabetes Care by 871.8% during the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock valued at $50,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Arcadia Investment Management Corp MI boosted its holdings in shares of Tandem Diabetes Care by 141.6% during the 1st quarter. Arcadia Investment Management Corp MI now owns 1,851 shares of the medical device company’s stock valued at $66,000 after purchasing an additional 1,085 shares during the last quarter.

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.