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

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report)'s stock had its "sell" rating restated by analysts at Citigroup in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $14.00 price objective on the medical device company's stock, down from their previous price objective of $24.00. Citigroup's price target points to a potential downside of 10.20% from the stock's current price.

A number of other research firms have also recently commented on TNDM. 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. Piper Sandler lowered their price objective on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group increased their price target on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Stifel Nicolaus decreased their price target on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Mizuho started coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $32.71.

Tandem Diabetes Care Price Performance

TNDM traded down $0.58 during trading hours on Wednesday, hitting $15.59. The company's stock had a trading volume of 1,534,652 shares, compared to its average volume of 1,490,106. The business's 50-day moving average price is $20.41 and its 200-day moving average price is $24.64. Tandem Diabetes Care has a 12 month low of $15.17 and a 12 month high of $48.24. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -5.61 and a beta of 1.48. The company has a current ratio of 2.30, a quick ratio of 1.81 and a debt-to-equity ratio of 1.99.

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

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds have recently bought and sold shares of the business. AlphaQuest LLC grew its position in shares of Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after acquiring an additional 541 shares in the last quarter. Assetmark Inc. grew its position in shares of Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock worth $34,000 after acquiring an additional 525 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Tandem Diabetes Care in the 1st quarter worth approximately $37,000. Jones Financial Companies Lllp grew its position in shares of 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 acquiring an additional 748 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in shares of Tandem Diabetes Care by 417.8% in the 1st quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock worth $65,000 after acquiring an additional 2,741 shares in the last quarter.

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.