Tandem Diabetes Care (NASDAQ:TNDM) had its target price boosted by equities research analysts at Piper Sandler from $90.00 to $125.00 in a note issued to investors on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the medical device company’s stock. Piper Sandler’s target price suggests a potential upside of 19.66% from the stock’s current price.
A number of other analysts have also weighed in on the stock. Citigroup upgraded shares of Tandem Diabetes Care from a “neutral” rating to a “buy” rating and increased their target price for the stock from $94.00 to $120.00 in a report on Monday, July 6th. Craig Hallum cut their price objective on Tandem Diabetes Care from $108.00 to $102.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Oppenheimer assumed coverage on Tandem Diabetes Care in a report on Tuesday, June 30th. They set a “buy” rating and a $102.00 target price for the company. UBS Group raised their price target on Tandem Diabetes Care from $98.00 to $106.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Raymond James boosted their price objective on shares of Tandem Diabetes Care from $88.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $111.62.
NASDAQ:TNDM opened at $104.46 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.21 and a current ratio of 2.82. Tandem Diabetes Care has a fifty-two week low of $43.69 and a fifty-two week high of $110.80. The firm has a market cap of $6.28 billion, a PE ratio of -139.28 and a beta of 0.58. The business has a 50 day moving average price of $94.92 and a 200-day moving average price of $79.49.
In related news, Director Christopher J. Twomey sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $100.28, for a total value of $752,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David B. Berger sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $78.33, for a total value of $156,660.00. Following the transaction, the executive vice president now directly owns 3,961 shares of the company’s stock, valued at approximately $310,265.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,000 shares of company stock worth $11,058,360. Company insiders own 6.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in TNDM. Meeder Asset Management Inc. purchased a new stake in shares of Tandem Diabetes Care during the first quarter valued at approximately $36,000. Invesco Ltd. lifted its position in Tandem Diabetes Care by 110.6% in the 1st quarter. Invesco Ltd. now owns 1,663,692 shares of the medical device company’s stock valued at $107,059,000 after acquiring an additional 873,780 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of Tandem Diabetes Care by 36.6% in the 1st quarter. Guggenheim Capital LLC now owns 6,253 shares of the medical device company’s stock worth $402,000 after purchasing an additional 1,676 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Tandem Diabetes Care by 5,706.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,355 shares of the medical device company’s stock worth $281,000 after purchasing an additional 4,280 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Tandem Diabetes Care by 17.2% in the first quarter. US Bancorp DE now owns 1,364 shares of the medical device company’s stock worth $88,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 91.73% of the company’s stock.
Tandem Diabetes Care Company Profile
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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