Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler restated their overweight rating on shares of Tandem Diabetes Care (NASDAQ:TNDM - Free Report) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $50.00 target price on the medical device company's stock, up from their previous target price of $35.00.

TNDM has been the topic of a number of other research reports. Stifel Nicolaus increased their price target on Tandem Diabetes Care from $37.00 to $40.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. SVB Leerink upgraded Tandem Diabetes Care from a market perform rating to an outperform rating and increased their price objective for the company from $34.00 to $45.00 in a report on Thursday, April 25th. StockNews.com upgraded Tandem Diabetes Care from a sell rating to a hold rating in a report on Friday, April 19th. Leerink Partnrs upgraded Tandem Diabetes Care from a market perform rating to an outperform rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company upgraded Tandem Diabetes Care from an equal weight rating to an overweight rating and increased their price objective for the company from $21.00 to $45.00 in a report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $43.45.

Tandem Diabetes Care Stock Up 22.3 %

TNDM stock traded up $8.16 during mid-day trading on Friday, reaching $44.72. The company had a trading volume of 5,986,907 shares, compared to its average volume of 1,773,321. 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 company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -13.00 and a beta of 1.10. The firm has a fifty day simple moving average of $32.29 and a 200 day simple moving average of $26.08. Tandem Diabetes Care has a fifty-two week low of $13.82 and a fifty-two week high of $47.00.

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 (EPS) 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%. Analysts forecast that Tandem Diabetes Care will post -1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Eminence Capital LP lifted its position in Tandem Diabetes Care by 76.1% during the 3rd quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company's stock worth $114,028,000 after acquiring an additional 2,372,458 shares during the period. Jennison Associates LLC lifted its holdings in shares of Tandem Diabetes Care by 98.1% in the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company's stock valued at $90,512,000 after buying an additional 1,265,534 shares during the period. GW&K Investment Management LLC acquired a new stake in shares of Tandem Diabetes Care in the 4th quarter valued at approximately $36,288,000. Chicago Capital LLC raised its holdings in Tandem Diabetes Care by 699.8% during the third quarter. Chicago Capital LLC now owns 904,410 shares of the medical device company's stock worth $18,785,000 after purchasing an additional 791,336 shares during the last quarter. Finally, Paradice Investment Management LLC raised its holdings in Tandem Diabetes Care by 23.9% during the third quarter. Paradice Investment Management LLC now owns 1,520,065 shares of the medical device company's stock worth $31,572,000 after purchasing an additional 293,250 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.