Tandem Diabetes Care (NASDAQ:TNDM) Upgraded at Citigroup

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) was upgraded by analysts at Citigroup from a "neutral" rating to a "buy" rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a $57.00 target price on the medical device company's stock, up from their prior target price of $40.00. Citigroup's price target points to a potential upside of 10.92% from the stock's current price.

TNDM has been the topic of a number of other reports. SVB Leerink upgraded Tandem Diabetes Care from a "market perform" rating to an "outperform" rating and raised their price target for the company from $34.00 to $45.00 in a research note on Thursday, April 25th. Stifel Nicolaus raised their price target on Tandem Diabetes Care from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday, April 23rd. Barclays raised their price target on Tandem Diabetes Care from $39.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, May 6th. Robert W. Baird raised their price target on Tandem Diabetes Care from $28.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company upgraded Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $21.00 to $45.00 in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.73.

Tandem Diabetes Care Stock Up 4.2 %

NASDAQ:TNDM traded up $2.07 during midday trading on Wednesday, reaching $51.39. The company had a trading volume of 2,053,148 shares, compared to its average volume of 1,765,402. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of -23.68 and a beta of 1.10. The stock's fifty day simple moving average is $36.78 and its 200-day simple moving average is $28.66. Tandem Diabetes Care has a 12-month low of $13.82 and a 12-month high of $52.51. The company has a current ratio of 3.81, a quick ratio of 3.01 and a debt-to-equity ratio of 1.43.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its 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 net margin of 18.37% and a negative return on equity of 34.38%. The company had revenue of $196.80 million during the quarter, compared to analysts' expectations of $204.86 million. On average, sell-side analysts anticipate that Tandem Diabetes Care will post -1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Tandem Diabetes Care by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company's stock worth $249,732,000 after buying an additional 30,664 shares during the last quarter. Eminence Capital LP grew its holdings in shares of Tandem Diabetes Care by 76.1% during the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company's stock worth $114,028,000 after buying an additional 2,372,458 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Tandem Diabetes Care by 98.1% during the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company's stock worth $90,512,000 after buying an additional 1,265,534 shares during the last quarter. Bellevue Group AG grew its holdings in shares of Tandem Diabetes Care by 2.0% during the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company's stock worth $71,949,000 after buying an additional 39,571 shares during the last quarter. Finally, GW&K Investment Management LLC purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at approximately $36,288,000.

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.