Tandem Diabetes Care (NASDAQ:TNDM) Price Target Lowered to $24.00 at Robert W. Baird

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its price target dropped by equities researchers at Robert W. Baird from $33.00 to $24.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the medical device company's stock. Robert W. Baird's price target points to a potential upside of 12.73% from the company's previous close.

Other analysts have also issued reports about the stock. Morgan Stanley lowered shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Citigroup downgraded Tandem Diabetes Care from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $35.00 to $24.00 in a research report on Tuesday, March 4th. Wells Fargo & Company restated an "equal weight" rating and issued a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. The Goldman Sachs Group cut their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Finally, Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $35.00 to $25.00 in a research note on Friday, February 28th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of "Moderate Buy" and an average price target of $39.81.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM traded down $0.19 during trading on Thursday, reaching $21.29. The company's stock had a trading volume of 1,107,131 shares, compared to its average volume of 1,497,200. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a 50 day moving average of $18.80 and a 200-day moving average of $28.53. Tandem Diabetes Care has a 12 month low of $15.75 and a 12 month high of $53.69. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -11.03 and a beta of 1.52.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $220.19 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.65) EPS. Research analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the acquisition, the chief operating officer now owns 10,538 shares of the company's stock, valued at $190,948.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Tandem Diabetes Care by 134.6% in the third quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company's stock worth $8,379,000 after purchasing an additional 113,355 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Tandem Diabetes Care by 163.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock worth $65,000 after buying an additional 1,101 shares during the period. US Bancorp DE boosted its holdings in Tandem Diabetes Care by 15.2% in the fourth quarter. US Bancorp DE now owns 38,708 shares of the medical device company's stock worth $1,394,000 after acquiring an additional 5,108 shares in the last quarter. KBC Group NV increased its position in shares of Tandem Diabetes Care by 41.5% during the fourth quarter. KBC Group NV now owns 192,479 shares of the medical device company's stock worth $6,933,000 after acquiring an additional 56,461 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in Tandem Diabetes Care by 22.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company's stock valued at $236,000 after buying an additional 1,184 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.