Tandem Diabetes Care (TNDM) PT Raised to $70.00 at Stifel Nicolaus

Tandem Diabetes Care (NASDAQ:TNDM) had its target price boosted by Stifel Nicolaus from $58.00 to $70.00 in a research report report published on Wednesday, May 1st, BenzingaRatingsTable reports. They currently have a hold rating on the medical device company’s stock.

TNDM has been the subject of a number of other research reports. BidaskClub lowered shares of Tandem Diabetes Care from a strong-buy rating to a buy rating in a research report on Tuesday, April 16th. ValuEngine lowered shares of Tandem Diabetes Care from a strong-buy rating to a buy rating in a research report on Thursday, February 28th. Piper Jaffray Companies raised shares of Tandem Diabetes Care to an overweight rating and set a $67.00 price objective for the company in a research report on Wednesday, February 27th. Oppenheimer upped their target price on shares of Tandem Diabetes Care from $57.00 to $68.00 and gave the company an outperform rating in a research note on Wednesday, February 27th. Finally, Robert W. Baird upped their target price on shares of Tandem Diabetes Care from $46.00 to $55.00 and gave the company an outperform rating in a research note on Friday, February 15th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $68.75.

Tandem Diabetes Care stock opened at $67.13 on Wednesday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -26.33 and a beta of 0.63. Tandem Diabetes Care has a fifty-two week low of $11.57 and a fifty-two week high of $74.81.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Tuesday, April 30th. The medical device company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.10). The company had revenue of $66.00 million for the quarter, compared to analyst estimates of $47.55 million. Tandem Diabetes Care had a negative net margin of 50.73% and a negative return on equity of 40.76%. The firm’s quarterly revenue was up 141.9% on a year-over-year basis. During the same period in the prior year, the company posted ($1.82) EPS. Equities analysts expect that Tandem Diabetes Care will post -0.88 earnings per share for the current year.

In other news, CAO Susan Morrison sold 60,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $67.79, for a total transaction of $4,067,400.00. Following the sale, the chief accounting officer now directly owns 53,745 shares of the company’s stock, valued at $3,643,373.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David B. Berger sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $62.60, for a total transaction of $125,200.00. Following the sale, the executive vice president now directly owns 3,765 shares in the company, valued at $235,689. The disclosure for this sale can be found here. Insiders have sold 347,300 shares of company stock worth $22,717,159 over the last ninety days. Insiders own 6.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in TNDM. Wells Fargo & Company MN raised its position in shares of Tandem Diabetes Care by 11.3% in the 3rd quarter. Wells Fargo & Company MN now owns 26,968 shares of the medical device company’s stock worth $1,155,000 after buying an additional 2,734 shares during the period. Bank of New York Mellon Corp raised its position in shares of Tandem Diabetes Care by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 210,992 shares of the medical device company’s stock worth $9,039,000 after buying an additional 6,313 shares during the period. FMR LLC purchased a new position in Tandem Diabetes Care in the third quarter valued at about $6,180,000. LPL Financial LLC purchased a new position in Tandem Diabetes Care in the third quarter valued at about $366,000. Finally, BlueMountain Capital Management LLC purchased a new position in Tandem Diabetes Care in the third quarter valued at about $140,000. Institutional investors and hedge funds own 81.03% of the company’s stock.

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.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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