Barclays Forecasts Strong Price Appreciation for Tandem Diabetes Care (NASDAQ:TNDM) Stock

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its price objective lifted by equities research analysts at Barclays from $58.00 to $60.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical device company's stock. Barclays's price target indicates a potential upside of 96.08% from the stock's previous close.

A number of other research firms have also issued reports on TNDM. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an "outperform" rating and a $65.00 price target for the company. Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a "buy" rating and a $57.00 target price for the company. UBS Group upgraded shares of Tandem Diabetes Care to a "hold" rating in a report on Friday, August 2nd. Canaccord Genuity Group cut their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a report on Thursday. Finally, Sanford C. Bernstein started coverage on Tandem Diabetes Care in a research report on Wednesday. They set an "outperform" rating and a $42.00 price objective for the company. Five 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 a consensus rating of "Moderate Buy" and a consensus price target of $54.25.

Tandem Diabetes Care Stock Down 8.2 %

NASDAQ:TNDM traded down $2.72 during trading hours on Friday, hitting $30.60. 3,313,730 shares of the company's stock traded hands, compared to its average volume of 1,604,348. The stock's fifty day moving average price is $38.73 and its two-hundred day moving average price is $41.81. The firm has a market cap of $2.00 billion, a P/E ratio of -15.85 and a beta of 1.36. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. Tandem Diabetes Care has a twelve month low of $13.82 and a twelve month high of $53.69.

Institutional Trading of Tandem Diabetes Care

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Tandem Diabetes Care by 11.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company's stock worth $172,000 after acquiring an additional 431 shares during the last quarter. MN Wealth Advisors LLC boosted its stake in Tandem Diabetes Care by 3.1% during the 2nd quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company's stock valued at $593,000 after purchasing an additional 440 shares during the period. Signaturefd LLC boosted its stake in Tandem Diabetes Care by 29.2% during the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company's stock valued at $93,000 after purchasing an additional 522 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tandem Diabetes Care by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company's stock valued at $603,000 after buying an additional 592 shares during the last quarter. Finally, Assetmark Inc. bought a new position in Tandem Diabetes Care in the 3rd quarter worth approximately $29,000.

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.