Tandem Diabetes Care (NASDAQ:TNDM) Given New $56.00 Price Target at Canaccord Genuity Group

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective reduced by research analysts at Canaccord Genuity Group from $57.00 to $56.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 83.01% from the stock’s current price.

A number of other research firms have also recently weighed in on TNDM. Robert W. Baird cut their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday. The Goldman Sachs Group began coverage on Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target for the company. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective for the company. Barclays lifted their price target on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday. They issued an “outperform” rating and a $42.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Trading Down 8.2 %

Shares of NASDAQ:TNDM opened at $30.60 on Thursday. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $53.69. The company’s 50 day moving average is $38.73 and its two-hundred day moving average is $41.81. The company has a market cap of $2.00 billion, a PE ratio of -15.85 and a beta of 1.36. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the stock. Landscape Capital Management L.L.C. increased its stake in Tandem Diabetes Care by 10.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 13,554 shares of the medical device company’s stock valued at $575,000 after buying an additional 1,313 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Tandem Diabetes Care by 156.0% in the third quarter. Intech Investment Management LLC now owns 18,336 shares of the medical device company’s stock valued at $778,000 after acquiring an additional 11,173 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Tandem Diabetes Care by 17.6% during the third quarter. Advisors Asset Management Inc. now owns 10,200 shares of the medical device company’s stock worth $433,000 after acquiring an additional 1,525 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 worth $11,540,000 after purchasing an additional 66,687 shares in the last quarter. Finally, Commerce Bank lifted its position in Tandem Diabetes Care by 40.9% in the third quarter. Commerce Bank now owns 22,164 shares of the medical device company’s stock valued at $940,000 after purchasing an additional 6,437 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.