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

Tandem Diabetes Care (NASDAQ:TNDM) had its price target hoisted by equities researchers at Morgan Stanley from $23.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the medical device company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 5.31% from the company’s current price.

A number of other research firms also recently weighed in on TNDM. Citigroup raised their price target on shares of Tandem Diabetes Care from $16.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Sanford C. Bernstein reissued a “market perform” rating and issued a $25.00 price objective (up from $18.00) on shares of Tandem Diabetes Care in a research note on Friday, January 9th. UBS Group reaffirmed a “neutral” rating and set a $22.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday, February 20th. Robert W. Baird set a $30.00 price target on shares of Tandem Diabetes Care and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Finally, Canaccord Genuity Group set a $35.00 price objective on Tandem Diabetes Care and gave the company a “buy” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.11.

Tandem Diabetes Care Stock Down 5.9%

NASDAQ TNDM opened at $23.74 on Monday. The business has a fifty day moving average price of $21.40 and a two-hundred day moving average price of $17.78. The stock has a market capitalization of $1.62 billion, a PE ratio of -7.73 and a beta of 1.63. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $29.65. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.55 and a quick ratio of 2.02.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The company had revenue of $290.38 million for the quarter, compared to analyst estimates of $277.14 million. During the same quarter last year, the company posted $0.01 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities 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 institutional investors and hedge funds have recently bought and sold shares of TNDM. Royal Bank of Canada grew its position in shares of Tandem Diabetes Care by 30.5% in the 1st quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock valued at $4,054,000 after buying an additional 49,408 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Tandem Diabetes Care by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock worth $1,426,000 after acquiring an additional 2,096 shares during the period. Millennium Management LLC boosted its holdings in Tandem Diabetes Care by 41.1% in the first quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock valued at $4,361,000 after acquiring an additional 66,245 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Tandem Diabetes Care in the first quarter valued at approximately $225,000. Finally, Goldman Sachs Group Inc. increased its position in Tandem Diabetes Care by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock valued at $13,653,000 after purchasing an additional 34,069 shares during the period.

Tandem Diabetes Care Company Profile

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.