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

Tandem Diabetes Care (NASDAQ:TNDM) had its price target reduced by Barclays from $60.00 to $53.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical device company’s stock. Barclays‘s price target suggests a potential upside of 139.39% from the stock’s previous close.

TNDM has been the subject of a number of other reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $63.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday. Robert W. Baird cut their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday. Royal Bank of Canada cut their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday. Morgan Stanley upgraded 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. Finally, Citigroup cut their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.88.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $22.14 on Friday. The firm has a 50-day simple moving average of $34.95 and a 200-day simple moving average of $36.40. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -11.47 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a 52 week low of $20.36 and a 52 week high of $53.69.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System boosted its stake in shares of Tandem Diabetes Care by 1.9% in the fourth 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 during the period. Bank of Montreal Can boosted its stake in shares of Tandem Diabetes Care by 4.3% in the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock valued at $360,000 after purchasing an additional 409 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Tandem Diabetes Care by 8.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock valued at $247,000 after purchasing an additional 525 shares during the period. Assetmark Inc. boosted its stake in shares of Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after purchasing an additional 535 shares during the period. Finally, AlphaQuest LLC boosted its stake in shares of Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 541 shares during the period.

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.