Robert W. Baird Has Lowered Expectations for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its target price lowered by Robert W. Baird from $39.00 to $37.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the medical device company’s stock. Robert W. Baird’s price target suggests a potential upside of 20.92% from the stock’s previous close.

TNDM has been the subject of a number of other reports. Royal Bank of Canada began coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 target price for the company. Sanford C. Bernstein started coverage on Tandem Diabetes Care in a report on Wednesday. They issued an “outperform” rating and a $42.00 target price on the stock. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They set a “buy” rating and a $57.00 price target for the company. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Trading Down 8.2 %

Tandem Diabetes Care stock opened at $30.60 on Thursday. The business has a 50-day simple moving average of $38.73 and a two-hundred day simple moving average of $41.81. Tandem Diabetes Care has a 52-week low of $13.82 and a 52-week high of $53.69. The company has a quick ratio of 2.38, a current ratio of 3.05 and a debt-to-equity ratio of 1.31. The company has a market cap of $2.00 billion, a P/E ratio of -15.85 and a beta of 1.36.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors have recently bought and sold shares of TNDM. Fred Alger Management LLC grew its position in shares of Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Tandem Diabetes Care by 2,836.2% during the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after buying an additional 389,632 shares in the last quarter. Kingdon Capital Management L.L.C. increased its stake in Tandem Diabetes Care by 153.9% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after acquiring an additional 298,880 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after acquiring an additional 233,405 shares during the last quarter. Finally, Brown Capital Management LLC boosted its position in shares of Tandem Diabetes Care by 29.9% during the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock valued at $33,801,000 after acquiring an additional 219,940 shares during the last quarter.

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.