Wall Street Zen Downgrades Tandem Diabetes Care (NASDAQ:TNDM) to Sell

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

TNDM has been the subject of a number of other research reports. Lake Street Capital cut shares of Tandem Diabetes Care from a "buy" rating to a "hold" rating and cut their target price for the stock from $75.00 to $12.00 in a research report on Monday, August 11th. Piper Sandler cut shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. Truist Financial set a $16.00 target price on shares of Tandem Diabetes Care and gave the stock a "hold" rating in a research report on Wednesday, October 15th. Weiss Ratings restated a "sell (e+)" rating on shares of Tandem Diabetes Care in a research report on Friday. Finally, Citigroup restated a "neutral" rating and set a $15.00 target price (up previously from $11.00) on shares of Tandem Diabetes Care in a research report on Tuesday, October 7th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $21.19.

Tandem Diabetes Care Stock Up 2.0%

Shares of NASDAQ TNDM opened at $14.95 on Friday. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week high of $38.28. The firm has a 50-day moving average price of $13.06 and a 200 day moving average price of $16.37. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.84 and a beta of 1.48.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.08). The business 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 was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.47) EPS. Equities research analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Leigh Vosseller bought 13,720 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $10.89 per share, for a total transaction of $149,410.80. Following the completion of the acquisition, the chief financial officer owned 25,580 shares in the company, valued at $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John F. Sheridan bought 10,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average price of $10.23 per share, with a total value of $102,300.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors have recently bought and sold shares of TNDM. Assetmark Inc. lifted its position in Tandem Diabetes Care by 42.9% during the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company's stock valued at $34,000 after buying an additional 525 shares in the last quarter. CWM LLC lifted its position in Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company's stock valued at $52,000 after buying an additional 2,025 shares in the last quarter. Brooklyn Investment Group lifted its position in Tandem Diabetes Care by 417.8% during 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 in the last quarter. Nisa Investment Advisors LLC lifted its position in Tandem Diabetes Care by 186.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company's stock valued at $78,000 after buying an additional 2,717 shares in the last quarter. Finally, State of Wyoming lifted its position in Tandem Diabetes Care by 49.1% during the first quarter. State of Wyoming now owns 4,467 shares of the medical device company's stock valued at $86,000 after buying an additional 1,471 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.

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