Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its price objective decreased by research analysts at Wells Fargo & Company from $20.00 to $13.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the medical device company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 16.99% from the company's previous close.
TNDM has been the subject of several other reports. Wall Street Zen cut shares of Tandem Diabetes Care from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Truist Financial began coverage on shares of Tandem Diabetes Care in a research note on Monday, June 16th. They set a "hold" rating and a $24.00 price target on the stock. Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Piper Sandler lowered shares of Tandem Diabetes Care from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $30.00 to $14.00 in a report on Thursday. Finally, Mizuho began coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They set a "neutral" rating and a $20.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $28.93.
Check Out Our Latest Analysis on Tandem Diabetes Care
Tandem Diabetes Care Trading Down 22.8%
TNDM stock traded down $3.28 on Thursday, hitting $11.11. 5,124,742 shares of the company were exchanged, compared to its average volume of 1,613,144. Tandem Diabetes Care has a twelve month low of $9.98 and a twelve month high of $47.60. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. The business's fifty day moving average is $17.93 and its two-hundred day moving average is $21.88. The stock has a market capitalization of $740.17 million, a price-to-earnings ratio of -4.00 and a beta of 1.46.
Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly 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). Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. The business 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 posted ($0.47) earnings per share. The company's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current year.
Hedge Funds Weigh In On Tandem Diabetes Care
A number of large investors have recently bought and sold shares of the company. Sessa Capital IM L.P. bought a new position in shares of Tandem Diabetes Care in the first quarter valued at $85,574,000. Hood River Capital Management LLC acquired a new stake in Tandem Diabetes Care during the 4th quarter valued at $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 purchasing an additional 1,086,337 shares during the last quarter. Brown Advisory Inc. acquired a new stake in Tandem Diabetes Care during the 4th quarter valued at $32,889,000. Finally, GW&K Investment Management LLC lifted its holdings in Tandem Diabetes Care by 34.9% during the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company's stock valued at $54,874,000 after purchasing an additional 740,499 shares during the last quarter.
About Tandem Diabetes Care
(
Get Free Report)
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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