Royal Bank of Canada Cuts Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $55.00

Tandem Diabetes Care (NASDAQ:TNDM) had its target price cut by investment analysts at Royal Bank of Canada from $65.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 148.32% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Barclays boosted their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Citigroup dropped their price target on shares of 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. Sanford C. Bernstein initiated coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target for the company. Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $63.00 target price on shares of Tandem Diabetes Care in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.38.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM traded down $11.44 during mid-day trading on Thursday, reaching $22.15. 7,502,208 shares of the company were exchanged, compared to its average volume of 1,165,708. Tandem Diabetes Care has a twelve month low of $22.00 and a twelve month high of $53.69. The stock has a market capitalization of $1.45 billion, a P/E ratio of -11.50 and a beta of 1.32. The company’s 50-day simple moving average is $35.45 and its 200-day simple moving average is $36.62. 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 Trading of Tandem Diabetes Care

Institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in Tandem Diabetes Care during the 3rd quarter worth approximately $28,000. Assetmark Inc. bought a new position in shares of Tandem Diabetes Care in the third quarter worth about $29,000. AlphaQuest LLC raised its stake in Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 541 shares during the period. Jones Financial Companies Lllp lifted its holdings 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 bought a new position in shares of Tandem Diabetes Care during the third quarter worth $52,000.

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.