Royal Bank of Canada Has Lowered Expectations for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its price target decreased by research analysts at Royal Bank of Canada from $65.00 to $55.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the medical device company's stock. Royal Bank of Canada's price objective would suggest a potential upside of 164.68% from the company's previous close.

Other analysts also recently issued research reports about the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Citigroup decreased their target price on Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. Morgan Stanley raised Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price target on the stock in a research report on Monday, December 2nd. Robert W. Baird decreased their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Barclays upped their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of "Moderate Buy" and an average price target of $48.44.

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Tandem Diabetes Care Price Performance

Shares of TNDM traded down $1.36 during trading hours on Thursday, hitting $20.78. 3,170,699 shares of the company were exchanged, compared to its average volume of 1,417,415. The firm has a fifty day simple moving average of $34.95 and a 200-day simple moving average of $36.32. The company has a market capitalization of $1.38 billion, a PE ratio of -10.77 and a beta of 1.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care has a one year low of $20.36 and a one year high of $53.69.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors have recently added to or reduced their stakes in TNDM. Arizona State Retirement System lifted its position in shares of Tandem Diabetes Care by 1.9% in the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company's stock worth $683,000 after acquiring an additional 362 shares during the period. Bank of Montreal Can raised its holdings in Tandem Diabetes Care by 4.3% during the 4th quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company's stock worth $360,000 after purchasing an additional 409 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Tandem Diabetes Care by 8.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company's stock worth $247,000 after buying an additional 525 shares during the period. Assetmark Inc. grew its holdings in Tandem Diabetes Care by 77.5% during the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock valued at $44,000 after purchasing an additional 535 shares during the period. Finally, AlphaQuest LLC increased its position in shares of Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after buying an additional 541 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.