Royal Bank of Canada Lowers Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $55.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price decreased by Royal Bank of Canada from $65.00 to $55.00 in a report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical device company’s stock.

Several other research firms also recently commented on TNDM. Robert W. Baird reduced their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday. Barclays lifted their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a report on Monday, December 2nd. Citigroup reduced their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Finally, Sanford C. Bernstein began coverage on Tandem Diabetes Care in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price on the stock. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average price target of $53.38.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $21.75 on Thursday. Tandem Diabetes Care has a one year low of $21.43 and a one year high of $53.69. The stock has a 50-day moving average of $35.45 and a 200 day moving average of $36.62. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -11.27 and a beta of 1.32. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Institutional Trading of Tandem Diabetes Care

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in Tandem Diabetes Care in the 3rd quarter valued at $28,000. Assetmark Inc. purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter worth $29,000. AlphaQuest LLC grew its stake in shares of Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after buying an additional 541 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after buying an additional 748 shares in the last quarter. Finally, McIlrath & Eck LLC purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter worth $52,000.

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.