Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Upgraded by Baird R W

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by stock analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Oppenheimer began coverage on Tandem Diabetes Care in a research note on Monday, September 8th. They issued an “outperform” rating and a $22.00 price target on the stock. Robert W. Baird set a $30.00 price objective on Tandem Diabetes Care and gave the stock an “outperform” rating in a research note on Tuesday. Truist Financial reiterated a “hold” rating and set a $17.00 price objective (up from $16.00) on shares of Tandem Diabetes Care in a research note on Monday, November 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price target on shares of Tandem Diabetes Care in a research report on Monday, September 29th. Finally, Barclays increased their price objective on shares of Tandem Diabetes Care from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.19.

Tandem Diabetes Care Trading Up 2.2%

Tandem Diabetes Care stock opened at $22.60 on Tuesday. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $38.28. The business’s fifty day moving average is $17.64 and its 200 day moving average is $16.01. The stock has a market capitalization of $1.53 billion, a PE ratio of -7.41 and a beta of 1.68. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.31). The firm had revenue of $249.25 million for the quarter, compared to the consensus estimate of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.35) EPS. On average, sell-side analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors and hedge funds have recently made changes to their positions in TNDM. Sessa Capital IM L.P. purchased a new stake in Tandem Diabetes Care in the 1st quarter valued at about $85,574,000. Freestone Grove Partners LP purchased a new stake in shares of Tandem Diabetes Care in the third quarter valued at approximately $22,706,000. Ophir Asset Management Pty Ltd bought a new position in Tandem Diabetes Care in the second quarter worth approximately $27,307,000. ArrowMark Colorado Holdings LLC increased its holdings in Tandem Diabetes Care by 36.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after purchasing an additional 991,649 shares during the period. Finally, Royce & Associates LP bought a new stake in Tandem Diabetes Care during the 3rd quarter valued at $6,191,000.

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.