Cowen Increases Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $85.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target increased by investment analysts at Cowen from $70.00 to $85.00 in a note issued to investors on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Cowen’s target price suggests a potential downside of 1.20% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Guggenheim initiated coverage on Tandem Diabetes Care in a research note on Thursday, October 17th. They set a “buy” rating and a $76.00 target price on the stock. Robert W. Baird cut Tandem Diabetes Care from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $71.00 to $75.00 in a research note on Tuesday, February 4th. Craig Hallum reissued a “buy” rating and set a $92.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday. Raymond James initiated coverage on Tandem Diabetes Care in a research note on Wednesday, February 5th. They set an “outperform” rating and a $85.00 target price on the stock. Finally, ValuEngine raised Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $79.79.

TNDM opened at $86.03 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.05 and a current ratio of 2.46. Tandem Diabetes Care has a 52-week low of $47.36 and a 52-week high of $87.20. The stock has a market capitalization of $5.08 billion, a PE ratio of -172.06 and a beta of 0.08. The stock’s 50 day moving average price is $69.23 and its 200-day moving average price is $64.48.

In other Tandem Diabetes Care news, Chairman Kim D. Blickenstaff sold 200,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $59.85, for a total value of $11,970,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Leigh Vosseller sold 10,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $65.41, for a total value of $654,100.00. Following the completion of the transaction, the chief financial officer now directly owns 13,265 shares in the company, valued at approximately $867,663.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 319,778 shares of company stock worth $20,871,101. Corporate insiders own 6.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in shares of Tandem Diabetes Care by 248.9% during the 1st quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock worth $44,818,000 after buying an additional 503,482 shares during the period. BlackRock Inc. grew its position in shares of Tandem Diabetes Care by 2.1% during the 2nd quarter. BlackRock Inc. now owns 4,054,911 shares of the medical device company’s stock worth $261,622,000 after buying an additional 83,336 shares during the period. Coastal Investment Advisors Inc. grew its position in shares of Tandem Diabetes Care by 31.3% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 26,264 shares of the medical device company’s stock worth $1,552,000 after buying an additional 6,260 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tandem Diabetes Care by 10.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,210 shares of the medical device company’s stock worth $189,000 after buying an additional 316 shares during the period. Finally, Tuttle Tactical Management acquired a new stake in shares of Tandem Diabetes Care during the 3rd quarter worth approximately $303,000. 82.96% of the stock is currently owned by institutional investors.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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