Brokerages Set Tandem Diabetes Care, Inc. (NASDAQ:TNDM) PT at $53.81

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $53.81.

Several research firms have recently weighed in on TNDM. Robert W. Baird cut their price objective on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Barclays lifted their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Sanford C. Bernstein started coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price on the stock. Citigroup cut their target price on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Monday, December 2nd.

Tandem Diabetes Care Trading Up 5.4 %

NASDAQ:TNDM opened at $32.66 on Thursday. Tandem Diabetes Care has a fifty-two week low of $25.78 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The stock has a market capitalization of $2.15 billion, a PE ratio of -16.92 and a beta of 1.32. The business’s 50-day simple moving average is $35.46 and its 200-day simple moving average is $36.67.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bellevue Group AG increased its holdings in shares of Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after acquiring an additional 307,624 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Tandem Diabetes Care by 134.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock worth $8,379,000 after acquiring an additional 113,355 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Tandem Diabetes Care by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock worth $1,587,000 after acquiring an additional 21,086 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Tandem Diabetes Care by 368.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock worth $1,108,000 after acquiring an additional 20,549 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Tandem Diabetes Care by 32.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock worth $11,540,000 after acquiring an additional 66,687 shares during 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.