Citigroup Increases Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $31.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target hoisted by equities researchers at Citigroup from $25.00 to $31.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical device company’s stock. Citigroup’s price target suggests a potential downside of 0.39% from the stock’s current price.

Several other analysts have also commented on TNDM. Stifel Nicolaus increased their target price on shares of Tandem Diabetes Care from $17.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, February 5th. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.00.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM traded up $2.50 during midday trading on Friday, reaching $31.12. 1,822,875 shares of the company traded hands, compared to its average volume of 1,885,960. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -9.05 and a beta of 1.08. The stock has a 50-day moving average price of $25.70 and a 200 day moving average price of $23.21. Tandem Diabetes Care has a 52 week low of $13.82 and a 52 week high of $44.05. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.83 and a quick ratio of 3.02.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $196.80 million during the quarter, compared to the consensus estimate of $204.86 million. Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. Sell-side analysts anticipate that Tandem Diabetes Care will post -1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of Tandem Diabetes Care by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company’s stock worth $726,000 after buying an additional 164 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Tandem Diabetes Care by 3.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company’s stock worth $654,000 after purchasing an additional 184 shares during the last quarter. State of Wyoming lifted its holdings in Tandem Diabetes Care by 45.8% during the fourth quarter. State of Wyoming now owns 821 shares of the medical device company’s stock worth $37,000 after acquiring an additional 258 shares in the last quarter. Stephens Inc. AR lifted its holdings in Tandem Diabetes Care by 17.6% during the first quarter. Stephens Inc. AR now owns 2,120 shares of the medical device company’s stock worth $86,000 after acquiring an additional 317 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Tandem Diabetes Care by 0.3% in the 2nd quarter. Legal & General Group Plc now owns 97,817 shares of the medical device company’s stock valued at $5,790,000 after acquiring an additional 318 shares in the last quarter.

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.