Tandem Diabetes Care (NASDAQ:TNDM) Upgraded by Wall Street Zen to Hold Rating

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Friday.

A number of other analysts also recently issued reports on TNDM. Royal Bank of Canada reduced their price target on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Morgan Stanley cut Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $45.00 to $22.00 in a report on Wednesday, March 5th. Robert W. Baird dropped their price target on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Sanford C. Bernstein downgraded Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $35.00 to $25.00 in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered 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. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care has an average rating of "Hold" and an average target price of $35.86.

Tandem Diabetes Care Price Performance

TNDM stock traded up $0.12 during trading on Friday, reaching $20.78. The company's stock had a trading volume of 1,005,781 shares, compared to its average volume of 1,495,928. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company's fifty day moving average is $19.55 and its 200-day moving average is $26.85. The company has a market capitalization of $1.38 billion, a P/E ratio of -10.77 and a beta of 1.52. Tandem Diabetes Care has a 1 year low of $15.75 and a 1 year high of $50.22.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted 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 business had revenue of $234.42 million during the quarter, compared to analysts' expectations of $220.19 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.65) earnings per share. On average, research analysts expect that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TNDM. Sessa Capital IM L.P. bought a new stake in shares of Tandem Diabetes Care during the first quarter worth $85,574,000. Hood River Capital Management LLC purchased a new position in Tandem Diabetes Care in the 4th quarter worth about $46,035,000. Jacobs Levy Equity Management Inc. lifted its holdings in Tandem Diabetes Care by 189.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock valued at $59,830,000 after buying an additional 1,086,337 shares in the last quarter. Brown Advisory Inc. purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at about $32,889,000. Finally, GW&K Investment Management LLC grew its stake in Tandem Diabetes Care by 34.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock worth $54,874,000 after acquiring an additional 740,499 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.