Tandem Diabetes Care (NASDAQ:TNDM) Upgraded at Wells Fargo & Company

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research note issued on Monday, Marketbeat reports. The brokerage presently has a $45.00 price objective on the medical device company's stock, up from their previous price objective of $21.00. Wells Fargo & Company's price target would suggest a potential upside of 21.46% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. StockNews.com upgraded Tandem Diabetes Care from a "sell" rating to a "hold" rating in a report on Friday, April 19th. Stifel Nicolaus increased their target price on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, April 23rd. Leerink Partnrs upgraded shares of Tandem Diabetes Care from a "market perform" rating to an "outperform" rating in a report on Thursday. SVB Leerink raised shares of Tandem Diabetes Care from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $34.00 to $45.00 in a research report on Thursday. Finally, Citigroup lifted their target price on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.82.

Tandem Diabetes Care Stock Up 5.1 %

Shares of Tandem Diabetes Care stock traded up $1.81 during trading hours on Monday, reaching $37.05. The company's stock had a trading volume of 1,506,973 shares, compared to its average volume of 1,718,985. The company has a market capitalization of $2.39 billion, a P/E ratio of -10.77 and a beta of 1.11. The stock's fifty day simple moving average is $30.96 and its two-hundred day simple moving average is $25.47. Tandem Diabetes Care has a one year low of $13.82 and a one year high of $40.74. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced 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). The business had revenue of $196.80 million during the quarter, compared to the consensus estimate of $204.86 million. Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. On average, research analysts forecast that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. RiverPark Advisors LLC purchased a new stake in Tandem Diabetes Care in the 4th quarter worth about $27,000. MCF Advisors LLC increased 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 worth $36,000 after purchasing an additional 445 shares in the last quarter. Signaturefd LLC raised its position in shares of Tandem Diabetes Care by 871.8% in the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company's stock valued at $50,000 after purchasing an additional 1,517 shares during the period. Arcadia Investment Management Corp MI lifted its stake in shares of Tandem Diabetes Care by 141.6% during 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 in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Tandem Diabetes Care by 51.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company's stock worth $67,000 after buying an additional 1,099 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.