Tandem Diabetes Care (NASDAQ:TNDM) Price Target Increased to $116.00 by Analysts at Raymond James

Tandem Diabetes Care (NASDAQ:TNDM) had its target price boosted by Raymond James from $95.00 to $116.00 in a research report released on Friday morning, AnalystRatings.com reports. Raymond James currently has an outperform rating on the medical device company’s stock.

A number of other research firms have also weighed in on TNDM. BidaskClub lowered shares of Tandem Diabetes Care from a buy rating to a hold rating in a report on Thursday, May 28th. Cowen raised their target price on shares of Tandem Diabetes Care from $85.00 to $110.00 and gave the company an outperform rating in a report on Tuesday, July 7th. Piper Sandler raised their target price on shares of Tandem Diabetes Care from $90.00 to $125.00 and gave the company an overweight rating in a report on Friday. Bank of America reissued a hold rating and issued a $100.00 target price on shares of Tandem Diabetes Care in a report on Tuesday, June 30th. Finally, SVB Leerink raised their target price on shares of Tandem Diabetes Care from $105.00 to $115.00 and gave the company a market perform rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $107.46.

Shares of Tandem Diabetes Care stock traded up $0.18 on Friday, hitting $104.46. 1,700,897 shares of the company traded hands, compared to its average volume of 763,364. The stock has a market capitalization of $6.28 billion, a P/E ratio of -139.28 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.21 and a current ratio of 2.82. Tandem Diabetes Care has a 52 week low of $43.69 and a 52 week high of $110.80. The business has a 50-day simple moving average of $94.92 and a 200 day simple moving average of $79.49.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, July 30th. The medical device company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.21). The company had revenue of $109.24 million for the quarter, compared to the consensus estimate of $86.51 million. Tandem Diabetes Care had a negative net margin of 10.29% and a negative return on equity of 14.20%. Research analysts expect that Tandem Diabetes Care will post -0.47 earnings per share for the current year.

In other news, EVP David B. Berger sold 2,000 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $78.33, for a total transaction of $156,660.00. Following the completion of the sale, the executive vice president now directly owns 3,961 shares of the company’s stock, valued at $310,265.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dick Allen sold 3,500 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $89.00, for a total transaction of $311,500.00. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock valued at $11,058,360 over the last ninety days. 6.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of TNDM. FMR LLC boosted its stake in shares of Tandem Diabetes Care by 248.9% during the first quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock valued at $44,818,000 after purchasing an additional 503,482 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Tandem Diabetes Care by 22.9% during the fourth quarter. Guggenheim Capital LLC now owns 4,577 shares of the medical device company’s stock valued at $273,000 after purchasing an additional 854 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Tandem Diabetes Care by 29.8% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,890 shares of the medical device company’s stock valued at $414,000 after purchasing an additional 1,583 shares during the period. Norges Bank purchased a new stake in shares of Tandem Diabetes Care during the fourth quarter valued at $31,266,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Tandem Diabetes Care during the first quarter valued at $30,000. 91.73% of the stock is owned by hedge funds and other institutional investors.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

Featured Story: If I purchase shares through a brokerage account, am I the holder of record?

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

Receive News & Ratings for Tandem Diabetes Care Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tandem Diabetes Care and related companies with MarketBeat.com's FREE daily email newsletter.