Tandem Diabetes Care (NASDAQ:TNDM) Price Target Cut to $53.00 by Analysts at Barclays

Tandem Diabetes Care (NASDAQ:TNDM) had its target price dropped by research analysts at Barclays from $60.00 to $53.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the medical device company’s stock. Barclays‘s price objective indicates a potential upside of 139.39% from the company’s current price.

A number of other brokerages have also weighed in on TNDM. Canaccord Genuity Group restated a “buy” rating and issued a $63.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday. Robert W. Baird cut their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada lowered their target price on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research report on Monday, December 2nd. Finally, Citigroup reduced their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.88.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM traded up $0.39 during trading hours on Friday, hitting $22.14. The company’s stock had a trading volume of 3,857,803 shares, compared to its average volume of 1,372,251. Tandem Diabetes Care has a twelve month low of $20.36 and a twelve month high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The stock has a fifty day simple moving average of $35.22 and a 200-day simple moving average of $36.52. The company has a market capitalization of $1.45 billion, a P/E ratio of -11.47 and a beta of 1.32.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds have recently added to or reduced their stakes in the business. Bellevue Group AG boosted its holdings in shares of Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock worth $78,496,000 after buying an additional 307,624 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Tandem Diabetes Care by 134.6% during the third quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock worth $8,379,000 after acquiring an additional 113,355 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Tandem Diabetes Care by 129.1% in the third quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock worth $1,587,000 after purchasing an additional 21,086 shares during the period. Oppenheimer & Co. Inc. increased its stake in Tandem Diabetes Care by 368.5% in the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after purchasing an additional 20,549 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Tandem Diabetes Care by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock valued at $11,540,000 after purchasing an additional 66,687 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.