Citigroup Reaffirms "Sell" Rating for Tandem Diabetes Care (NASDAQ:TNDM)

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report)'s stock had its "sell" rating reaffirmed by stock analysts at Citigroup in a note issued to investors on Wednesday, MarketBeat.com reports. They currently 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 points to a potential downside of 13.42% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Piper Sandler decreased their price target on Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Canaccord Genuity Group lifted their price target on Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Robert W. Baird decreased their price target on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company decreased their price target on Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of "Hold" and an average price target of $32.71.

Tandem Diabetes Care Price Performance

Shares of TNDM stock traded up $0.32 during trading on Wednesday, hitting $16.17. The company had a trading volume of 1,476,766 shares, compared to its average volume of 1,489,928. 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 firm has a market capitalization of $1.08 billion, a P/E ratio of -5.82 and a beta of 1.48. The stock's 50-day moving average price is $20.41 and its 200 day moving average price is $24.64. Tandem Diabetes Care has a one year low of $15.17 and a one year high of $48.24.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly 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). The company had revenue of $234.42 million during 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 quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.65) earnings per share. Equities analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently modified their holdings of the business. AlphaQuest LLC boosted its holdings in Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after acquiring an additional 541 shares during the last quarter. Assetmark Inc. grew its holdings in Tandem Diabetes Care by 42.9% during 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 during the period. NBC Securities Inc. acquired a new stake in Tandem Diabetes Care during the 1st quarter worth about $37,000. Jones Financial Companies Lllp grew its holdings in Tandem Diabetes Care by 195.8% during 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 during the period. Finally, Brooklyn Investment Group grew its holdings in Tandem Diabetes Care by 417.8% during 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 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.