Tandem Diabetes Care (NASDAQ:TNDM) Given New $17.00 Price Target at UBS Group

Key Points

• UBS Group has reduced its price target for Tandem Diabetes Care from $20.00 to $17.00, maintaining a "neutral" rating amid mixed analyst opinions.
• Recent stock performance shows Tandem Diabetes Care trading down to $11.22, significantly below its 1-year high of $47.60.
• The company reported a loss of ($0.48) earnings per share for the last quarter, which was worse than analysts' expectations of ($0.40) per share.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its price objective decreased by investment analysts at UBS Group from $20.00 to $17.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the medical device company's stock. UBS Group's target price points to a potential upside of 68.15% from the company's previous close.

Several other research analysts have also recently commented on TNDM. Royal Bank Of Canada decreased their target price on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday. Canaccord Genuity Group set a $24.00 target price on shares of Tandem Diabetes Care and gave the stock a "buy" rating in a research report on Thursday. Mizuho assumed coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They issued a "neutral" rating and a $20.00 target price for the company. Citigroup reiterated a "sell" rating and issued a $14.00 price objective (down from $24.00) on shares of Tandem Diabetes Care in a report on Wednesday, July 9th. Finally, Wall Street Zen cut shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.67.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM traded down $1.12 on Thursday, hitting $10.11. The stock had a trading volume of 3,127,767 shares, compared to its average volume of 2,421,448. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $47.60. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. The stock has a market cap of $683.13 million, a price-to-earnings ratio of -3.27 and a beta of 1.46. The company's 50-day moving average is $17.36 and its two-hundred day moving average is $21.17.

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

Insider Buying and Selling at Tandem Diabetes Care

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

Institutional Trading of Tandem Diabetes Care

Large investors have recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in shares of Tandem Diabetes Care by 32.2% in the first 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. boosted its position 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 acquiring an additional 64,467 shares during the period. Oppenheimer Asset Management Inc. grew its stake 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 valued at $1,394,000 after acquiring an additional 11,048 shares in the last quarter. Janney Montgomery Scott LLC grew its stake 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 valued at $737,000 after acquiring an additional 8,210 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Tandem Diabetes Care by 763.3% in the 1st quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock valued at $808,000 after purchasing an additional 37,303 shares during the period.

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.