Stifel Nicolaus Forecasts Strong Price Appreciation for Tandem Diabetes Care (NASDAQ:TNDM) Stock

by · The Markets Daily

Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) had its price target upped by investment analysts at Stifel Nicolaus from $16.00 to $20.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the medical device company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 2.32% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Mizuho boosted their target price on shares of Tandem Diabetes Care from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday, December 17th. Sanford C. Bernstein reiterated a “market perform” rating and set a $25.00 price target (up from $18.00) on shares of Tandem Diabetes Care in a research report on Friday, January 9th. Morgan Stanley set a $23.00 target price on Tandem Diabetes Care and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tandem Diabetes Care currently has an average rating of “Hold” and a consensus target price of $24.35.

Check Out Our Latest Stock Report on Tandem Diabetes Care

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $19.55 on Wednesday. The business has a fifty day moving average of $21.24 and a 200 day moving average of $16.69. The firm has a market capitalization of $1.33 billion, a P/E ratio of -6.41 and a beta of 1.68. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $37.71. 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 – Get Free Report) last issued its earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.31). The company had revenue of $249.25 million during the quarter, compared to analyst estimates of $235.80 million. Tandem Diabetes Care had a negative return on equity of 73.97% and a negative net margin of 20.19%.The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) EPS. As a group, sell-side analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC increased its holdings in Tandem Diabetes Care by 42.3% in the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after buying an additional 601,260 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after purchasing an additional 278,042 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tandem Diabetes Care by 245.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,015 shares of the medical device company’s stock valued at $1,627,000 after buying an additional 52,566 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of Tandem Diabetes Care by 42.1% during the 4th quarter. Bayforest Capital Ltd now owns 27,409 shares of the medical device company’s stock worth $602,000 after buying an additional 8,114 shares during the last quarter. Finally, Greenwood Capital Associates LLC purchased a new stake in shares of Tandem Diabetes Care in the 4th quarter worth about $337,000.

Tandem Diabetes Care Company Profile

(Get Free Report)

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.

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