Tandem Diabetes Care (NASDAQ:TNDM) Shares Up 3.3% – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was up 3.3% during mid-day trading on Monday . The company traded as high as $32.16 and last traded at $32.04. Approximately 183,168 shares were traded during trading, a decline of 80% from the average daily volume of 914,348 shares. The stock had previously closed at $31.00.

Analysts Set New Price Targets

Several equities analysts have issued reports on TNDM shares. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Monday, December 2nd. Robert W. Baird lowered their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Citigroup reduced their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Canaccord Genuity Group lowered their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.81.

Tandem Diabetes Care Stock Performance

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 firm has a 50-day moving average price of $35.48 and a two-hundred day moving average price of $36.70. The firm has a market cap of $2.17 billion, a PE ratio of -17.11 and a beta of 1.32.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the business. Hood River Capital Management LLC purchased a new position in shares of Tandem Diabetes Care during the 4th quarter worth $46,035,000. Jacobs Levy Equity Management Inc. boosted its position in Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock valued at $59,830,000 after buying an additional 1,086,337 shares during the period. Brown Advisory Inc. acquired a new stake in Tandem Diabetes Care in the 4th quarter valued at about $32,889,000. Park West Asset Management LLC grew its stake in shares of Tandem Diabetes Care by 49.5% during the fourth quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company’s stock worth $57,632,000 after purchasing an additional 530,000 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in Tandem Diabetes Care by 235.7% in the fourth quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock valued at $26,875,000 after buying an additional 523,843 shares in the last quarter.

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.