Barclays Lowers Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $53.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price reduced by Barclays from $60.00 to $53.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the medical device company’s stock.

A number of other equities analysts have also recently commented on the stock. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $35.00 to $25.00 in a research note on Friday. Royal Bank of Canada decreased their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Citigroup decreased their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

Tandem Diabetes Care Price Performance

TNDM stock opened at $22.14 on Friday. Tandem Diabetes Care has a 12 month low of $20.36 and a 12 month high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $35.22 and a 200 day moving average price of $36.52. The stock has a market cap of $1.45 billion, a PE ratio of -11.47 and a beta of 1.32.

Institutional Investors Weigh In On Tandem Diabetes Care

Several large investors have recently modified their holdings of TNDM. Brooklyn Investment Group bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at about $28,000. Assetmark Inc. bought a new position in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $29,000. AlphaQuest LLC raised its stake in shares of Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after acquiring an additional 541 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Tandem Diabetes Care by 195.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after acquiring an additional 748 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new position in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $52,000.

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.