StockNews.com Lowers Tandem Diabetes Care (NASDAQ:TNDM) to Sell

StockNews.com downgraded shares of Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) from a hold rating to a sell rating in a report published on Tuesday.

Several other research firms have also issued reports on TNDM. Oppenheimer lowered their price target on shares of Tandem Diabetes Care from $142.00 to $130.00 in a report on Thursday, May 5th. Bank of America assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, March 2nd. They set a neutral rating and a $130.00 target price for the company. Piper Sandler cut their price target on shares of Tandem Diabetes Care from $170.00 to $120.00 in a research report on Thursday, May 5th. Wells Fargo & Company increased their price target on Tandem Diabetes Care from $160.00 to $166.00 and gave the stock an overweight rating in a report on Wednesday, February 23rd. Finally, Citigroup dropped their price objective on Tandem Diabetes Care from $163.00 to $155.00 and set a buy rating on the stock in a research note on Wednesday, February 23rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Tandem Diabetes Care has a consensus rating of Hold and a consensus target price of $137.55.

NASDAQ TNDM opened at $67.78 on Tuesday. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 847.36 and a beta of 0.66. The company has a quick ratio of 5.63, a current ratio of 6.21 and a debt-to-equity ratio of 0.64. Tandem Diabetes Care has a twelve month low of $67.03 and a twelve month high of $155.86. The stock has a fifty day simple moving average of $107.72 and a 200 day simple moving average of $121.93.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). Tandem Diabetes Care had a net margin of 0.80% and a return on equity of 1.64%. The company had revenue of $175.91 million during the quarter, compared to the consensus estimate of $168.21 million. During the same quarter last year, the firm posted ($0.07) EPS. The company’s quarterly revenue was up 24.7% on a year-over-year basis. Research analysts expect that Tandem Diabetes Care will post 0.52 earnings per share for the current fiscal year.

In other Tandem Diabetes Care news, CFO Leigh Vosseller purchased 500 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was acquired at an average price of $70.00 per share, for a total transaction of $35,000.00. Following the purchase, the chief financial officer now owns 9,118 shares of the company’s stock, valued at approximately $638,260. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Mcgroddy-Goetz sold 405 shares of the company’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $106.00, for a total transaction of $42,930.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 5,000 shares of company stock worth $361,270 and have sold 8,153 shares worth $870,264. 4.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in TNDM. Moors & Cabot Inc. bought a new stake in Tandem Diabetes Care during the 3rd quarter worth approximately $25,000. Exane Derivatives purchased a new position in shares of Tandem Diabetes Care during the first quarter valued at approximately $33,000. Byrne Asset Management LLC bought a new stake in Tandem Diabetes Care during the fourth quarter worth $34,000. Sandy Cove Advisors LLC purchased a new stake in Tandem Diabetes Care in the 1st quarter valued at $46,000. Finally, Retirement Planning Co of New England Inc. purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

Tandem Diabetes Care Company Profile (Get Rating)

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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