UBS Group Has Lowered Expectations for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

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 target dropped by equities researchers at UBS Group from $20.00 to $17.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the medical device company's stock. UBS Group's price target suggests a potential upside of 51.54% from the stock's previous close.

A number of other equities analysts have also recently issued reports on TNDM. Wall Street Zen cut Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Truist Financial assumed coverage on Tandem Diabetes Care in a research report on Monday, June 16th. They set a "hold" rating and a $24.00 price target on the stock. Mizuho began coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They set a "neutral" rating and a $20.00 target price on the stock. Citigroup reiterated a "sell" rating and set a $14.00 price target (down previously from $24.00) on shares of Tandem Diabetes Care in a research note on Wednesday, July 9th. Finally, Piper Sandler cut Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and cut their price target for the company from $30.00 to $14.00 in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $25.80.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock traded down $3.17 during midday trading on Thursday, reaching $11.22. The company had a trading volume of 7,902,027 shares, compared to its average volume of 1,634,723. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $47.60. The stock has a fifty day simple moving average of $17.93 and a 200 day simple moving average of $21.88. The company has a current ratio of 2.30, a quick ratio of 1.81 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $747.23 million, a price-to-earnings ratio of -4.05 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings data 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). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The company had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. During the same quarter in the previous year, the business earned ($0.47) EPS. Tandem Diabetes Care's revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Trading of Tandem Diabetes Care

Hedge funds have recently bought and sold shares of the company. Assetmark Inc. raised its holdings 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 worth $34,000 after purchasing an additional 525 shares during the period. NBC Securities Inc. acquired a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $37,000. CWM LLC boosted its stake in Tandem Diabetes Care by 262.6% during the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company's stock valued at $52,000 after acquiring an additional 2,025 shares during the last quarter. Brooklyn Investment Group increased its holdings in Tandem Diabetes Care by 417.8% in the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company's stock valued at $65,000 after buying an additional 2,741 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 186.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company's stock valued at $78,000 after acquiring an additional 2,717 shares during 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.

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