Cowen Raises Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $85.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target upped by Cowen from $70.00 to $85.00 in a research report report published on Thursday, The Fly reports. Cowen currently has an outperform rating on the medical device company’s stock.

TNDM has been the topic of a number of other reports. Robert W. Baird cut Tandem Diabetes Care from an outperform rating to a neutral rating and raised their target price for the company from $71.00 to $75.00 in a research note on Tuesday, February 4th. Guggenheim initiated coverage on Tandem Diabetes Care in a research note on Thursday, October 17th. They issued a buy rating and a $76.00 target price on the stock. BidaskClub upgraded Tandem Diabetes Care from a hold rating to a buy rating in a research note on Thursday, January 30th. ValuEngine upgraded shares of Tandem Diabetes Care from a sell rating to a hold rating in a research note on Tuesday, February 4th. Finally, Raymond James assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, February 5th. They set an outperform rating and a $85.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $79.79.

TNDM stock traded up $3.01 during mid-day trading on Thursday, reaching $86.03. The company had a trading volume of 1,833,998 shares, compared to its average volume of 1,573,174. The company has a quick ratio of 2.05, a current ratio of 2.46 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $4.65 billion, a P/E ratio of -172.06 and a beta of 0.08. Tandem Diabetes Care has a one year low of $47.36 and a one year high of $87.20. The stock’s 50-day simple moving average is $68.72 and its two-hundred day simple moving average is $64.37.

In related news, Chairman Kim D. Blickenstaff sold 200,000 shares of Tandem Diabetes Care stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $59.85, for a total transaction of $11,970,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John F. Sheridan sold 462 shares of Tandem Diabetes Care stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $70.00, for a total transaction of $32,340.00. Following the sale, the chief executive officer now owns 2,963 shares in the company, valued at $207,410. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 319,778 shares of company stock worth $20,871,101. Company insiders own 6.90% of the company’s stock.

Institutional investors have recently modified their holdings of the business. CWM LLC lifted its holdings in Tandem Diabetes Care by 393.5% in the 4th quarter. CWM LLC now owns 528 shares of the medical device company’s stock valued at $31,000 after acquiring an additional 421 shares during the last quarter. First Quadrant L P CA acquired a new stake in Tandem Diabetes Care in the 3rd quarter valued at about $34,000. TRUE Private Wealth Advisors acquired a new stake in Tandem Diabetes Care in the 4th quarter valued at about $45,000. Sowell Financial Services LLC acquired a new stake in Tandem Diabetes Care in the 4th quarter valued at about $54,000. Finally, US Bancorp DE lifted its holdings in Tandem Diabetes Care by 101.0% in the 4th quarter. US Bancorp DE now owns 1,164 shares of the medical device company’s stock valued at $70,000 after acquiring an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 82.96% of the company’s stock.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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The Fly

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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