Tandem Diabetes Care (NASDAQ:TNDM) Given New $38.00 Price Target at Citigroup

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its target price upped by equities researchers at Citigroup from $31.00 to $38.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the medical device company's stock. Citigroup's target price points to a potential upside of 10.92% from the stock's current price.

Several other equities analysts have also recently commented on the company. StockNews.com raised Tandem Diabetes Care from a "sell" rating to a "hold" rating in a report on Thursday, March 21st. Stifel Nicolaus upgraded Tandem Diabetes Care from a "hold" rating to a "buy" rating and increased their price target for the stock from $24.00 to $37.00 in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $37.00.

Tandem Diabetes Care Price Performance

Shares of TNDM stock traded up $0.76 during mid-day trading on Wednesday, hitting $34.26. 1,254,313 shares of the stock traded hands, compared to its average volume of 1,864,599. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -10.06 and a beta of 1.12. The company's 50-day simple moving average is $27.37 and its 200-day simple moving average is $23.83. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $43.51.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in shares of Tandem Diabetes Care by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company's stock worth $726,000 after purchasing an additional 164 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Tandem Diabetes Care by 3.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company's stock worth $654,000 after buying an additional 184 shares during the period. State of Wyoming raised its stake in Tandem Diabetes Care by 45.8% during the 4th quarter. State of Wyoming now owns 821 shares of the medical device company's stock worth $37,000 after buying an additional 258 shares during the period. Stephens Inc. AR raised its stake in Tandem Diabetes Care by 17.6% during the 1st quarter. Stephens Inc. AR now owns 2,120 shares of the medical device company's stock worth $86,000 after buying an additional 317 shares during the period. Finally, Legal & General Group Plc raised its stake in Tandem Diabetes Care by 0.3% during the 2nd quarter. Legal & General Group Plc now owns 97,817 shares of the medical device company's stock worth $5,790,000 after buying an additional 318 shares during the period.

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.