Tandem Diabetes Care (NASDAQ:TNDM) Price Target Cut to $33.00 by Analysts at Robert W. Baird

Tandem Diabetes Care (NASDAQ:TNDM) had its target price lowered by Robert W. Baird from $37.00 to $33.00 in a report issued on Thursday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the medical device company’s stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research report on Monday, December 2nd. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price objective on the stock. Barclays raised their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Citigroup lowered their price target on shares of 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. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.38.

Tandem Diabetes Care Price Performance

Shares of TNDM opened at $21.75 on Thursday. The firm has a market capitalization of $1.43 billion, a PE ratio of -11.27 and a beta of 1.32. The company’s 50-day moving average is $35.45 and its 200-day moving average is $36.62. Tandem Diabetes Care has a fifty-two week low of $21.43 and a fifty-two week high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Institutional Investors Weigh In On Tandem Diabetes Care

Hedge funds have recently made changes to their positions in the stock. Bellevue Group AG boosted its stake in shares of Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after purchasing an additional 307,624 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock valued at $8,379,000 after purchasing an additional 113,355 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Tandem Diabetes Care by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock valued at $1,587,000 after purchasing an additional 21,086 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Tandem Diabetes Care by 368.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after purchasing an additional 20,549 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Tandem Diabetes Care by 32.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock valued at $11,540,000 after purchasing an additional 66,687 shares in the last quarter.

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.