Tandem Diabetes Care (NASDAQ:TNDM) Price Target Raised to $55.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price hoisted by Wells Fargo & Company from $50.00 to $55.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the medical device company’s stock.

Several other analysts have also commented on TNDM. Robert W. Baird increased their price target on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the company a neutral rating in a research report on Friday. Citigroup raised shares of Tandem Diabetes Care from a neutral rating to a buy rating and increased their price target for the company from $40.00 to $57.00 in a research report on Wednesday, May 22nd. StockNews.com upgraded shares of Tandem Diabetes Care from a sell rating to a hold rating in a report on Friday, April 19th. Lake Street Capital upped their price objective on shares of Tandem Diabetes Care from $60.00 to $75.00 and gave the company a buy rating in a report on Wednesday, May 22nd. Finally, Piper Sandler restated an overweight rating and set a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care presently has an average rating of Moderate Buy and an average price target of $54.45.

Tandem Diabetes Care Stock Performance

TNDM stock opened at $40.79 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.81 and a quick ratio of 3.01. The business has a 50-day moving average price of $44.18 and a 200 day moving average price of $36.37. The company has a market capitalization of $2.63 billion, a P/E ratio of -18.80 and a beta of 1.28. Tandem Diabetes Care has a 1-year low of $13.82 and a 1-year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.07. The firm had revenue of $221.90 million during the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative return on equity of 39.52% and a negative net margin of 17.15%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) earnings per share. As a group, equities research analysts forecast that Tandem Diabetes Care will post -1.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dick Allen sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.68, for a total value of $258,400.00. Following the transaction, the director now owns 24,396 shares in the company, valued at approximately $1,260,785.28. The sale was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds have recently bought and sold shares of the stock. ORG Partners LLC acquired a new position in shares of Tandem Diabetes Care in the 2nd quarter valued at $31,000. Headlands Technologies LLC acquired a new position in shares of Tandem Diabetes Care in the first quarter worth about $35,000. MCF Advisors LLC boosted its stake 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 worth $36,000 after acquiring an additional 445 shares in the last quarter. Signaturefd LLC grew its position 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 acquiring an additional 1,517 shares during the period. Finally, Arcadia Investment Management Corp MI increased its stake in shares of Tandem Diabetes Care by 141.6% in 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 in the last quarter.

About Tandem Diabetes Care

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.