Tandem Diabetes Care's (TNDM) Sell Rating Reiterated at Citigroup

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report)'s stock had its "sell" rating restated by stock analysts at Citigroup in a research report issued to clients and investors on Wednesday, MarketBeat Ratings 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 12.99% from the stock's previous close.

Several other research firms also recently commented on TNDM. Piper Sandler lowered their target price on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Truist Financial started coverage on shares of Tandem Diabetes Care in a research note on Monday, June 16th. They set a "hold" rating and a $24.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of 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. 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 research note on Thursday, May 1st. Finally, Canaccord Genuity Group upped 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 note on Thursday, May 1st. Two equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.71.

Tandem Diabetes Care Price Performance

Shares of TNDM stock traded up $0.24 during mid-day trading on Wednesday, hitting $16.09. The company had a trading volume of 492,132 shares, compared to its average volume of 1,559,810. Tandem Diabetes Care has a 52-week low of $15.17 and a 52-week high of $48.24. The stock's 50 day moving average price is $20.48 and its 200-day moving average price is $24.78. 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 company has a market capitalization of $1.07 billion, a P/E ratio of -5.79 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) EPS 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 during the quarter, compared to analysts' expectations of $220.19 million. During the same period last year, the firm posted ($0.65) EPS. Tandem Diabetes Care's quarterly revenue was up 22.3% compared to the same quarter last year. Equities research analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC grew its holdings in shares of Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after purchasing an additional 541 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after purchasing an additional 748 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after purchasing an additional 535 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Tandem Diabetes Care in the first quarter worth about $37,000. Finally, State of Wyoming grew its holdings in shares of Tandem Diabetes Care by 95.9% in the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock worth $108,000 after purchasing an additional 1,467 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.