Sanford C. Bernstein Initiates Coverage on Tandem Diabetes Care (NASDAQ:TNDM)

Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note released on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $42.00 price objective on the medical device company’s stock.

A number of other equities analysts also recently issued reports on the company. Canaccord Genuity Group began coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price target on the stock. Barclays upped their price target on Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price target for the company. Finally, The Goldman Sachs Group started coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They set a “neutral” rating and a $46.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $34.24 on Wednesday. The business’s fifty day simple moving average is $39.21 and its 200-day simple moving average is $41.88. The company has a market cap of $2.24 billion, a PE ratio of -16.38 and a beta of 1.36. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. Tandem Diabetes Care has a 12-month low of $13.82 and a 12-month high of $53.69.

Institutional Trading of Tandem Diabetes Care

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in shares of Tandem Diabetes Care by 1,481.5% in the first quarter. BNP Paribas Financial Markets now owns 145,812 shares of the medical device company’s stock worth $5,163,000 after acquiring an additional 136,592 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Tandem Diabetes Care in the 1st quarter worth about $540,000. Vanguard Group Inc. boosted its position in Tandem Diabetes Care by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after purchasing an additional 30,664 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Tandem Diabetes Care in the first quarter valued at approximately $5,227,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Tandem Diabetes Care in the first quarter valued at approximately $710,000.

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.