Tandem Diabetes Care (NASDAQ:TNDM) Upgraded to “Outperform” by Leerink Partnrs

Leerink Partnrs upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a market perform rating to an outperform rating in a research report report published on Thursday morning, Zacks.com reports.

TNDM has been the topic of a number of other reports. SVB Leerink raised Tandem Diabetes Care from a market perform rating to an outperform rating and increased their target price for the stock from $34.00 to $45.00 in a research note on Thursday. Stifel Nicolaus increased their target price on Tandem Diabetes Care from $37.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. Citigroup upped their price target on Tandem Diabetes Care from $31.00 to $38.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Finally, StockNews.com raised Tandem Diabetes Care from a sell rating to a hold rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $39.45.

Tandem Diabetes Care Price Performance

TNDM 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. The stock’s 50 day moving average price is $30.96 and its 200-day moving average price is $25.47. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week 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) last issued 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 firm had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. On average, equities research analysts predict that Tandem Diabetes Care will post -1.62 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake 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 worth $488,000 after buying an additional 9,751 shares during the period. Peregrine Capital Management LLC raised its stake 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 worth $5,054,000 after buying an additional 52,897 shares during the period. Commonwealth Equity Services LLC raised its stake 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 worth $205,000 after buying an additional 908 shares during the period. Raymond James & Associates raised its stake 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 worth $836,000 after buying an additional 737 shares during the period. Finally, Chicago Capital LLC raised its stake in shares of Tandem Diabetes Care by 699.8% in the third quarter. Chicago Capital LLC now owns 904,410 shares of the medical device company’s stock worth $18,785,000 after buying an additional 791,336 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.