Tandem Diabetes Care (NASDAQ:TNDM) Hits New 52-Week High After Analyst Upgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s stock price reached a new 52-week high on Friday after Robert W. Baird raised their price target on the stock from $28.00 to $36.00. Robert W. Baird currently has a neutral rating on the stock. Tandem Diabetes Care traded as high as $47.00 and last traded at $46.06, with a volume of 1790113 shares trading hands. The stock had previously closed at $36.56.

Other equities analysts also recently issued reports about the company. Citigroup boosted their price objective on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 3rd. SVB Leerink upgraded Tandem Diabetes Care from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $34.00 to $45.00 in a report on Thursday, April 25th. Stifel Nicolaus lifted their target price on Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, April 23rd. Wells Fargo & Company raised shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $21.00 to $45.00 in a report on Monday. Finally, Leerink Partnrs upgraded Tandem Diabetes Care from a "market perform" rating to an "outperform" rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.45.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC raised its stake in shares of Tandem Diabetes Care by 79.3% in the first 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 in the last quarter. Van ECK Associates Corp grew its position in Tandem Diabetes Care by 8.6% in the fourth quarter. Van ECK Associates Corp now owns 5,900 shares of the medical device company's stock valued at $175,000 after acquiring an additional 467 shares during the period. Diversified Trust Co lifted its holdings in shares of Tandem Diabetes Care by 5.6% during the fourth quarter. Diversified Trust Co now owns 10,573 shares of the medical device company's stock valued at $313,000 after acquiring an additional 564 shares during the period. Raymond James & Associates lifted its holdings in Tandem Diabetes Care by 1.9% during the 3rd quarter. Raymond James & Associates now owns 40,264 shares of the medical device company's stock valued at $836,000 after purchasing an additional 737 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Tandem Diabetes Care by 10.1% during the third quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company's stock worth $205,000 after buying an additional 908 shares during the last quarter.

Tandem Diabetes Care Trading Up 22.3 %

The company has a market cap of $2.89 billion, a price-to-earnings ratio of -13.00 and a beta of 1.10. The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. The company's fifty day moving average price is $32.29 and its two-hundred day moving average price is $26.08.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.04). The company had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.62 earnings per share for the current year.

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.