Tandem Diabetes Care (NASDAQ:TNDM - Get Rating) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Wednesday.
A number of other equities analysts also recently weighed in on TNDM. Piper Sandler decreased their target price on shares of Tandem Diabetes Care from $170.00 to $120.00 in a research note on Thursday, May 5th. TheStreet downgraded shares of Tandem Diabetes Care from a "c-" rating to a "d+" rating in a research note on Monday, June 13th. Citigroup decreased their target price on shares of Tandem Diabetes Care from $155.00 to $130.00 in a research note on Tuesday, May 17th. Wells Fargo & Company raised their price target on shares of Tandem Diabetes Care from $160.00 to $166.00 and gave the company an "overweight" rating in a research report on Wednesday, February 23rd. Finally, Bank of America assumed coverage on shares of Tandem Diabetes Care in a research report on Wednesday, March 2nd. They set a "neutral" rating and a $130.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.00.
TNDM stock traded down $0.92 during trading on Wednesday, reaching $56.50. The company had a trading volume of 745,339 shares, compared to its average volume of 748,949. Tandem Diabetes Care has a 52 week low of $52.69 and a 52 week high of $155.86. The company has a market cap of $3.61 billion, a P/E ratio of 706.34 and a beta of 0.69. The business has a 50 day moving average of $79.08 and a 200 day moving average of $107.55. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.21 and a quick ratio of 5.60.
Tandem Diabetes Care (NASDAQ:TNDM - Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($0.23) earnings per share (EPS) for the quarter. Tandem Diabetes Care had a return on equity of 1.64% and a net margin of 0.80%. The company had revenue of $175.91 million during the quarter, compared to the consensus estimate of $168.21 million. During the same period in the previous year, the company earned ($0.07) earnings per share. Tandem Diabetes Care's quarterly revenue was up 24.7% on a year-over-year basis. Research analysts expect that Tandem Diabetes Care will post 0.35 earnings per share for the current year.
In other news, Director Rebecca B. Robertson sold 1,500 shares of Tandem Diabetes Care stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $96.73, for a total transaction of $145,095.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher J. Twomey sold 248 shares of Tandem Diabetes Care stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $111.73, for a total transaction of $27,709.04. Following the transaction, the director now owns 5,112 shares in the company, valued at approximately $571,163.76. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 5,000 shares of company stock worth $361,270 and sold 22,607 shares worth $1,829,208. Company insiders own 2.20% of the company's stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Tandem Diabetes Care by 0.8% during the 1st quarter. BlackRock Inc. now owns 6,531,074 shares of the medical device company's stock worth $759,496,000 after acquiring an additional 52,436 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Tandem Diabetes Care by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 6,306,724 shares of the medical device company's stock valued at $733,408,000 after buying an additional 146,577 shares in the last quarter. Capital World Investors lifted its stake in shares of Tandem Diabetes Care by 4.0% during the 4th quarter. Capital World Investors now owns 3,427,129 shares of the medical device company's stock valued at $515,851,000 after buying an additional 133,133 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Tandem Diabetes Care by 7.1% during the 1st quarter. Invesco Ltd. now owns 2,080,173 shares of the medical device company's stock valued at $241,904,000 after buying an additional 137,202 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Tandem Diabetes Care by 3.6% during the 1st quarter. State Street Corp now owns 1,708,030 shares of the medical device company's stock valued at $198,627,000 after buying an additional 59,778 shares in the last quarter. Institutional investors and hedge funds own 94.62% of the company's stock.
About Tandem Diabetes Care (Get Rating)
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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