Tandem Diabetes Care (NASDAQ:TNDM) Research Coverage Started at Mizuho

Mizuho started coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report released on Thursday, Marketbeat reports. The firm issued a neutral rating and a $20.00 price target on the medical device company’s stock.

Several other research firms also recently weighed in on TNDM. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $35.00 to $25.00 in a report on Friday, February 28th. Barclays lowered their price objective on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Robert W. Baird reduced their target price on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company reissued an “equal weight” rating and set a $22.00 price target (down previously from $38.00) on shares of Tandem Diabetes Care in a report on Monday, March 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average target price of $43.88.

Tandem Diabetes Care Stock Up 0.1 %

TNDM opened at $17.06 on Thursday. The stock has a market capitalization of $1.13 billion, a P/E ratio of -8.84 and a beta of 1.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care has a one year low of $15.75 and a one year high of $53.69. The business’s 50-day simple moving average is $23.62 and its 200-day simple moving average is $30.91.

Insider Activity

In other news, COO Jean-Claude Kyrillos purchased 10,538 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the transaction, the chief operating officer now directly owns 10,538 shares in the company, valued at $190,948.56. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNDM. AlphaQuest LLC increased 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 buying an additional 541 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Tandem Diabetes Care during the 1st quarter worth $37,000. Jones Financial Companies Lllp boosted its holdings in shares of Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after purchasing an additional 748 shares during the last quarter. Assetmark Inc. grew its position 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, McIlrath & Eck LLC acquired a new position in Tandem Diabetes Care in the third quarter valued at $52,000.

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.