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

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report)'s stock had its "sell" rating restated by analysts at Citigroup in a report released on Wednesday, Marketbeat Ratings reports. They presently 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 objective suggests a potential downside of 10.20% from the company's previous close.

Several other equities research analysts have also recently weighed in on TNDM. Truist Financial assumed coverage on Tandem Diabetes Care in a research note on Monday, June 16th. They set a "hold" rating and a $24.00 price objective on the stock. Wells Fargo & Company dropped their target price on Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Piper Sandler dropped their target price on Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Wall Street Zen lowered Tandem Diabetes Care from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. 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 target price for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $32.71.

Tandem Diabetes Care Price Performance

Shares of TNDM stock traded down $0.58 during trading hours on Wednesday, hitting $15.59. The stock had a trading volume of 1,534,652 shares, compared to its average volume of 1,492,740. Tandem Diabetes Care has a one year low of $15.17 and a one year high of $48.24. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. The stock's 50-day moving average price is $20.29 and its two-hundred day moving average price is $24.40. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -5.61 and a beta of 1.48.

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

Hedge Funds Weigh In On Tandem Diabetes Care

A number of large investors have recently bought and sold shares of the business. Arizona State Retirement System increased its position in shares of Tandem Diabetes Care by 1.9% in the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company's stock valued at $683,000 after acquiring an additional 362 shares during the period. Bank of Montreal Can increased its position in shares of Tandem Diabetes Care by 4.3% in the 4th quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company's stock valued at $360,000 after acquiring an additional 409 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Tandem Diabetes Care by 8.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company's stock valued at $247,000 after acquiring an additional 525 shares during the period. Assetmark Inc. increased 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 valued at $34,000 after acquiring an additional 525 shares during the period. Finally, 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 purchasing an additional 541 shares during 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.