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

Tandem Diabetes Care (NASDAQ:TNDM) had its price target raised by equities researchers at Citigroup from $16.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical device company’s stock. Citigroup’s price objective points to a potential upside of 2.85% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Tandem Diabetes Care in a report on Tuesday, October 21st. They set a “hold” rating and a $15.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $24.00 target price on shares of Tandem Diabetes Care in a research note on Monday, September 29th. Morgan Stanley set a $23.00 price target on shares of Tandem Diabetes Care and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Wall Street Zen raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Tandem Diabetes Care in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and an average target price of $22.06.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $21.39 on Thursday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -7.01 and a beta of 1.68. The company has a quick ratio of 1.90, a current ratio of 2.44 and a debt-to-equity ratio of 2.33. The stock’s 50-day simple moving average is $17.34 and its 200-day simple moving average is $16.06. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week high of $38.28.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.31). The firm had revenue of $249.25 million during the quarter, compared to analysts’ expectations 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 revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) earnings per share. As a group, analysts expect that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

A number of large investors have recently made changes to their positions in TNDM. Sessa Capital IM L.P. purchased a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at about $85,574,000. ArrowMark Colorado Holdings LLC increased its stake in Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after acquiring an additional 991,649 shares during the last quarter. Hood River Capital Management LLC increased its stake in Tandem Diabetes Care by 10.9% during the second quarter. Hood River Capital Management LLC now owns 2,564,978 shares of the medical device company’s stock worth $47,811,000 after acquiring an additional 252,934 shares during the last quarter. Paradice Investment Management LLC raised its position in Tandem Diabetes Care by 24.3% during the third quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock valued at $26,665,000 after purchasing an additional 429,289 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $22,706,000.

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.