Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) have earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.81.

A number of equities research analysts have commented on TNDM shares. Canaccord Genuity Group reduced their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a report on Monday, December 2nd. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price for the company. Robert W. Baird dropped their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Barclays upped their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TNDM. Raymond James & Associates raised its position in Tandem Diabetes Care by 8.0% in the 3rd quarter. Raymond James & Associates now owns 104,418 shares of the medical device company’s stock valued at $4,428,000 after purchasing an additional 7,747 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of Tandem Diabetes Care during the third quarter worth approximately $50,000. Private Advisor Group LLC acquired a new stake in Tandem Diabetes Care in the third quarter valued at approximately $220,000. International Assets Investment Management LLC raised its holdings in Tandem Diabetes Care by 4,141.2% in the third quarter. International Assets Investment Management LLC now owns 6,998 shares of the medical device company’s stock valued at $297,000 after acquiring an additional 6,833 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Tandem Diabetes Care by 21.2% in the third quarter. Assenagon Asset Management S.A. now owns 377,565 shares of the medical device company’s stock worth $16,013,000 after acquiring an additional 66,138 shares during the last quarter.

Tandem Diabetes Care Stock Down 2.8 %

Shares of TNDM opened at $31.72 on Thursday. Tandem Diabetes Care has a 52-week low of $22.03 and a 52-week high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The stock has a fifty day simple moving average of $35.55 and a two-hundred day simple moving average of $36.85. The company has a market capitalization of $2.08 billion, a PE ratio of -16.44 and a beta of 1.32.

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.