Tandem Diabetes Care (NASDAQ:TNDM) Given New $75.00 Price Target at Lake Street Capital

Tandem Diabetes Care (NASDAQ:TNDM - Free Report) had its price objective upped by Lake Street Capital from $60.00 to $75.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical device company's stock.

A number of other equities research analysts have also issued reports on TNDM. 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. Wells Fargo & Company raised shares of Tandem Diabetes Care from an equal weight rating to an overweight rating and raised their target price for the stock from $21.00 to $45.00 in a research note on Monday, April 29th. SVB Leerink upgraded Tandem Diabetes Care from a market perform rating to an outperform rating and upped their price target for the company from $34.00 to $45.00 in a research report on Thursday, April 25th. Piper Sandler reiterated an overweight rating and set a $50.00 price objective (up previously from $35.00) on shares of Tandem Diabetes Care in a research report on Friday, May 3rd. Finally, StockNews.com raised Tandem Diabetes Care from a sell rating to a hold rating in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $49.73.

Tandem Diabetes Care Price Performance

TNDM stock traded up $2.07 during trading on Wednesday, hitting $51.39. The stock had a trading volume of 2,053,148 shares, compared to its average volume of 1,765,402. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $52.51. The company's 50-day moving average price is $36.78 and its two-hundred day moving average price is $28.66. 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 stock has a market capitalization of $3.32 billion, a P/E ratio of -23.68 and a beta of 1.10.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.04). Tandem Diabetes Care had a negative return on equity of 34.38% and a negative net margin of 18.37%. The firm had revenue of $196.80 million during the quarter, compared to analyst estimates of $204.86 million. As a group, research analysts predict that Tandem Diabetes Care will post -1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the business. RiverPark Advisors LLC purchased a new stake in shares of Tandem Diabetes Care in the 4th quarter valued at $27,000. Headlands Technologies LLC purchased a new stake in shares of Tandem Diabetes Care in the 1st quarter valued at $35,000. MCF Advisors LLC raised its holdings in shares of Tandem Diabetes Care by 79.3% in the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company's stock valued at $36,000 after buying an additional 445 shares during the period. Signaturefd LLC raised its holdings in shares of Tandem Diabetes Care by 871.8% in the 4th quarter. Signaturefd LLC now owns 1,691 shares of the medical device company's stock valued at $50,000 after buying an additional 1,517 shares during the period. Finally, Arcadia Investment Management Corp MI raised its holdings 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 buying an additional 1,085 shares during the period.

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.