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

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its price target cut by stock analysts at Barclays from $60.00 to $53.00 in a report released on Friday,Benzinga reports. The firm presently has an "overweight" rating on the medical device company's stock. Barclays's price target would suggest a potential upside of 171.93% from the stock's previous close.

A number of other equities research analysts have also weighed in on the stock. 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, February 27th. 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, February 26th. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and cut their target price for the company from $35.00 to $25.00 in a research report on Friday. Royal Bank of Canada cut their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley raised shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 target price on the stock in a research report on Monday, December 2nd. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.81.

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Tandem Diabetes Care Trading Down 6.2 %

TNDM traded down $1.29 on Friday, reaching $19.49. 4,355,419 shares of the company traded hands, compared to its average volume of 1,486,412. Tandem Diabetes Care has a one year low of $18.77 and a one year high of $53.69. The firm has a fifty day simple moving average of $34.28 and a two-hundred day simple moving average of $35.98. The company has a market cap of $1.30 billion, a P/E ratio of -10.10 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $28,000. Assetmark Inc. acquired a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $29,000. AlphaQuest LLC boosted its stake in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after purchasing an additional 541 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after purchasing an additional 748 shares in the last quarter. Finally, McIlrath & Eck LLC acquired a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $52,000.

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.