Tandem Diabetes Care (NASDAQ:TNDM) Given "Sell" Rating at Citigroup

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report)'s stock had its "sell" rating reiterated by equities researchers at Citigroup in a research note issued on Wednesday,Benzinga reports. They presently have a $14.00 target price on the medical device company's stock, down from their previous target price of $24.00. Citigroup's target price would suggest a potential downside of 15.76% from the stock's current price.

A number of other research firms also recently issued reports on TNDM. Wall Street Zen downgraded shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Stifel Nicolaus decreased their price target on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group increased their target price on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Robert W. Baird cut their price target on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Piper Sandler cut their price objective on Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of "Hold" and an average price target of $32.71.

Tandem Diabetes Care Trading Up 2.3%

Shares of TNDM stock opened at $16.62 on Wednesday. The stock's fifty day moving average price is $20.50 and its two-hundred day moving average price is $24.84. Tandem Diabetes Care has a fifty-two week low of $15.75 and a fifty-two week high of $48.24. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30. The company has a market cap of $1.11 billion, a PE ratio of -5.98 and a beta of 1.48.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The firm had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. During the same quarter in the previous year, the firm earned ($0.65) EPS. Tandem Diabetes Care's quarterly revenue was up 22.3% on a year-over-year basis. Equities analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its position in Tandem Diabetes Care by 22.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company's stock worth $236,000 after buying an additional 1,184 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Tandem Diabetes Care by 17.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company's stock worth $1,394,000 after purchasing an additional 11,048 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Tandem Diabetes Care by 27.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock worth $737,000 after purchasing an additional 8,210 shares in the last quarter. Vanguard Group Inc. increased its position in Tandem Diabetes Care by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company's stock valued at $267,989,000 after acquiring an additional 77,451 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Tandem Diabetes Care by 763.3% in the first quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock valued at $808,000 after buying an additional 37,303 shares during the period.

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.

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