Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Lowered by Wall Street Zen

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also weighed in on TNDM. Wells Fargo & Company decreased their price objective on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Robert W. Baird lowered their price target on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Piper Sandler lowered their target price on Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Mizuho started coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They set a "neutral" rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $33.43.

Tandem Diabetes Care Trading Down 0.2%

NASDAQ TNDM traded down $0.04 during trading on Friday, hitting $20.18. The stock had a trading volume of 1,446,166 shares, compared to its average volume of 1,497,898. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -7.26 and a beta of 1.52. The stock has a 50 day simple moving average of $20.31 and a 200 day simple moving average of $25.99. Tandem Diabetes Care has a one year low of $15.75 and a one year high of $48.24. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30.

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

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently made changes to their positions in the business. Arizona State Retirement System grew its stake in Tandem Diabetes Care by 1.9% during the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company's stock worth $683,000 after buying an additional 362 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Tandem Diabetes Care by 4.3% during the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company's stock worth $360,000 after acquiring an additional 409 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Tandem Diabetes Care by 8.3% during the fourth 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 in the last quarter. Assetmark Inc. raised 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 purchasing an additional 525 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after purchasing an additional 541 shares in 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.