Royal Bank Of Canada Lowers Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $25.00

Key Points

• Royal Bank of Canada has lowered its price target for Tandem Diabetes Care from $45.00 to $25.00, indicating a potential upside of 120.24% from the company's recent close.
• Several research analysts hold varying opinions on Tandem's stock, with ratings ranging from "sell" to "buy" and a consensus rating of "Hold" with an average price target of $26.43.
• Tandem Diabetes Care reported a quarterly loss of ($0.48) earnings per share, slightly missing expectations, while revenue increased by 8.5% year-over-year.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its target price dropped by investment analysts at Royal Bank Of Canada from $45.00 to $25.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the medical device company's stock. Royal Bank Of Canada's price objective indicates a potential upside of 120.24% from the company's previous close.

A number of other equities research analysts also recently issued reports on the company. Citigroup reissued a "sell" rating and set a $14.00 price target (down previously from $24.00) on shares of Tandem Diabetes Care in a research report on Wednesday, July 9th. Canaccord Genuity Group increased their price target on Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wall Street Zen cut Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Stifel Nicolaus cut their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Mizuho began coverage on Tandem Diabetes Care in a research report on Thursday, April 10th. They set a "neutral" rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care has a consensus rating of "Hold" and an average target price of $26.43.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock traded down $3.04 during midday trading on Thursday, hitting $11.35. The company had a trading volume of 5,785,853 shares, compared to its average volume of 1,620,363. The company's 50 day simple moving average is $17.93 and its 200 day simple moving average is $21.88. Tandem Diabetes Care has a 52-week low of $9.98 and a 52-week high of $47.60. The stock has a market cap of $756.09 million, a price-to-earnings ratio of -4.08 and a beta of 1.46. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The firm had revenue of $240.68 million for the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.47) earnings per share. Research analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. bought a new stake in Tandem Diabetes Care during the 1st quarter worth approximately $85,574,000. GW&K Investment Management LLC boosted its stake in shares of Tandem Diabetes Care by 34.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock valued at $54,874,000 after purchasing an additional 740,499 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in shares of Tandem Diabetes Care by 14.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company's stock valued at $98,108,000 after purchasing an additional 337,026 shares in the last quarter. Stephens Investment Management Group LLC boosted its position in Tandem Diabetes Care by 1.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,737,769 shares of the medical device company's stock valued at $32,392,000 after buying an additional 30,854 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Tandem Diabetes Care by 189.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock valued at $59,830,000 after buying an additional 1,086,337 shares during the period.

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.

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