Barclays Lowers Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $53.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective cut by investment analysts at Barclays from $60.00 to $53.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the medical device company’s stock. Barclays‘s price target would suggest a potential upside of 139.39% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday. Royal Bank of Canada dropped their price target on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday. Citigroup dropped their price target on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $35.00 to $25.00 in a research report on Friday. Finally, Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.88.

Tandem Diabetes Care Price Performance

TNDM stock opened at $22.14 on Friday. Tandem Diabetes Care has a 12 month low of $20.36 and a 12 month high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $34.95 and a 200 day moving average price of $36.40. The stock has a market cap of $1.45 billion, a PE ratio of -11.47 and a beta of 1.32.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arizona State Retirement System increased its stake in Tandem Diabetes Care by 1.9% during the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock valued at $683,000 after purchasing an additional 362 shares in the last quarter. Bank of Montreal Can boosted its holdings in Tandem Diabetes Care by 4.3% during the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock worth $360,000 after buying an additional 409 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Tandem Diabetes Care by 8.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock worth $247,000 after buying an additional 525 shares in the last quarter. Assetmark Inc. raised its position in Tandem Diabetes Care by 77.5% during the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock worth $44,000 after acquiring an additional 535 shares during the period. Finally, AlphaQuest LLC raised its position in Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after acquiring an additional 541 shares during the period.

About Tandem Diabetes Care

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.