Tandem Diabetes Care (NASDAQ:TNDM) Price Target Cut to $56.00 by Analysts at Canaccord Genuity Group

Tandem Diabetes Care (NASDAQ:TNDM) had its target price trimmed by Canaccord Genuity Group from $57.00 to $56.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the medical device company’s stock.

A number of other brokerages also recently weighed in on TNDM. Canaccord Genuity Group began coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price on the stock. Barclays upped their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird dropped their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Finally, Royal Bank of Canada began coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Price Performance

NASDAQ TNDM traded down $2.29 during trading on Thursday, reaching $31.03. The company’s stock had a trading volume of 2,124,502 shares, compared to its average volume of 1,598,869. The firm has a fifty day moving average of $38.99 and a 200 day moving average of $41.82. Tandem Diabetes Care has a one year low of $13.82 and a one year high of $53.69. The stock has a market capitalization of $2.03 billion, a PE ratio of -16.12 and a beta of 1.36. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38.

Institutional Trading of Tandem Diabetes Care

Several large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at about $29,000. ORG Wealth Partners LLC bought a new position in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new position in shares of Tandem Diabetes Care in the 2nd quarter valued at approximately $31,000. Headlands Technologies LLC bought a new stake in shares of Tandem Diabetes Care during the first quarter valued at approximately $35,000. Finally, Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care in the third quarter worth $50,000.

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.