Tandem Diabetes Care (NASDAQ:TNDM) Downgraded to "Sell" Rating by Wall Street Zen

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

TNDM has been the topic of a number of other reports. Robert W. Baird cut their target price 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. Wells Fargo & Company dropped 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. The Goldman Sachs Group reduced their price objective on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Mizuho started coverage on shares of Tandem Diabetes Care in a report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 target price for the company. Finally, Piper Sandler dropped 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 research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $33.43.

Tandem Diabetes Care Stock Down 0.9%

NASDAQ:TNDM traded down $0.19 during mid-day trading on Friday, hitting $20.22. 1,120,610 shares of the company's stock were exchanged, compared to its average volume of 1,498,784. The company has a market cap of $1.35 billion, a PE ratio of -7.27 and a beta of 1.52. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. Tandem Diabetes Care has a one year low of $15.75 and a one year high of $48.24. The business has a fifty day moving average price of $20.25 and a 200 day moving average price of $26.09.

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) EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 57.33% and a negative net margin of 18.71%. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.65) earnings per share. Equities analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its position in 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 boosted 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 buying an additional 748 shares during the last quarter. Assetmark Inc. boosted 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 buying an additional 535 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after buying an additional 1,101 shares during the period. Finally, NBC Securities Inc. purchased a new stake in Tandem Diabetes Care during the first quarter valued at approximately $37,000.

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.