Tandem Diabetes Care (NASDAQ:TNDM) Upgraded at SVB Leerink

SVB Leerink upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a market perform rating to an outperform rating in a report published on Thursday morning, Marketbeat Ratings reports. The firm currently has $45.00 price target on the medical device company’s stock, up from their previous price target of $34.00.

Other research analysts have also recently issued research reports about the stock. Citigroup increased their target price on shares of Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. Stifel Nicolaus increased their target price on shares of Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a buy rating in a report on Tuesday, April 23rd. Finally, StockNews.com upgraded shares of Tandem Diabetes Care from a sell rating to a hold rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care has a consensus rating of Moderate Buy and a consensus target price of $39.45.

Tandem Diabetes Care Stock Down 0.9 %

Tandem Diabetes Care stock opened at $35.24 on Thursday. The stock has a market capitalization of $2.28 billion, a PE ratio of -10.24 and a beta of 1.12. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $40.74. The company has a quick ratio of 3.02, a current ratio of 3.83 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $30.96 and a 200-day moving average of $25.47.

Tandem Diabetes Care (NASDAQ:TNDM) last released 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 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%. On average, equities research analysts anticipate that Tandem Diabetes Care will post -1.62 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of Tandem Diabetes Care by 70.9% in the third quarter. SG Americas Securities LLC now owns 23,510 shares of the medical device company’s stock valued at $488,000 after purchasing an additional 9,751 shares during the period. Coronation Fund Managers Ltd. raised its position in shares of Tandem Diabetes Care by 70.8% in the third quarter. Coronation Fund Managers Ltd. now owns 354,904 shares of the medical device company’s stock valued at $7,371,000 after purchasing an additional 147,058 shares during the period. Peregrine Capital Management LLC raised its position in shares of Tandem Diabetes Care by 27.8% in the third quarter. Peregrine Capital Management LLC now owns 243,355 shares of the medical device company’s stock valued at $5,054,000 after purchasing an additional 52,897 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Tandem Diabetes Care by 10.1% in the third quarter. Commonwealth Equity Services LLC now owns 9,870 shares of the medical device company’s stock valued at $205,000 after purchasing an additional 908 shares during the period. Finally, Raymond James & Associates raised its position in shares of Tandem Diabetes Care by 1.9% in the third quarter. Raymond James & Associates now owns 40,264 shares of the medical device company’s stock valued at $836,000 after purchasing an additional 737 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.