Tandem Diabetes Care's (TNDM) "Sell (E+)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (E+)" rating for Tandem Diabetes Care, while other analysts have mixed ratings ranging from "buy" to "neutral."
• Tandem Diabetes Care reported a loss of $0.48 per share for the recent quarter, missing analyst expectations, despite revenue increasing 8.5% year-over-year.
• Insider buying activity includes CFO Leigh Vosseller and CEO John F. Sheridan acquiring shares, indicating potential confidence in the company's future performance.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report)'s stock had its "sell (e+)" rating reissued by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other analysts have also recently weighed in on the company. UBS Group dropped their price target on Tandem Diabetes Care from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Oppenheimer started coverage on Tandem Diabetes Care in a report on Monday, September 8th. They issued an "outperform" rating and a $22.00 price objective for the company. Piper Sandler cut Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $30.00 to $14.00 in a report on Thursday, August 7th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $24.00 price objective on shares of Tandem Diabetes Care in a report on Monday, September 29th. Finally, Barclays dropped their price objective on Tandem Diabetes Care from $53.00 to $51.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $22.69.

Tandem Diabetes Care Stock Performance

Shares of TNDM traded up $0.82 during mid-day trading on Wednesday, reaching $15.34. The company's stock had a trading volume of 2,202,217 shares, compared to its average volume of 1,914,555. The stock has a market cap of $1.04 billion, a P/E ratio of -4.96 and a beta of 1.48. The business has a 50-day simple moving average of $12.56 and a two-hundred day simple moving average of $16.69. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.32. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $39.98.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The firm had revenue of $240.68 million for the quarter, compared to analyst estimates of $238.39 million. Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The business's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.47) earnings per share. As a group, equities research analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Leigh Vosseller acquired 13,720 shares of Tandem Diabetes Care stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $10.89 per share, for a total transaction of $149,410.80. Following the transaction, the chief financial officer directly owned 25,580 shares of the company's stock, valued at approximately $278,566.20. The trade was a 115.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John F. Sheridan acquired 10,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average price of $10.23 per share, for a total transaction of $102,300.00. Following the transaction, the chief executive officer directly owned 106,327 shares in the company, valued at $1,087,725.21. The trade was a 10.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently bought and sold shares of TNDM. Cerity Partners LLC lifted its holdings in Tandem Diabetes Care by 32.2% during the 1st quarter. Cerity Partners LLC now owns 76,005 shares of the medical device company's stock worth $1,456,000 after buying an additional 18,529 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Tandem Diabetes Care by 25.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company's stock worth $6,103,000 after buying an additional 64,467 shares during the period. Acadian Asset Management LLC acquired a new position in Tandem Diabetes Care during the 1st quarter worth about $4,457,000. Oppenheimer Asset Management Inc. lifted its holdings in Tandem Diabetes Care by 17.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company's stock worth $1,394,000 after buying an additional 11,048 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Tandem Diabetes Care by 27.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock worth $737,000 after buying an additional 8,210 shares during the period.

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.

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