Tandem Diabetes Care (NASDAQ:TNDM) Cut to D+ at TheStreet

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) was downgraded by equities research analysts at TheStreet from a “c-” rating to a “d+” rating in a report released on Monday, TheStreetRatingsTable reports.

Several other brokerages have also commented on TNDM. Citigroup decreased their price objective on Tandem Diabetes Care from $155.00 to $130.00 in a report on Tuesday, May 17th. Bank of America began coverage on Tandem Diabetes Care in a report on Wednesday, March 2nd. They issued a “neutral” rating and a $130.00 price target for the company. Piper Sandler dropped their price target on Tandem Diabetes Care from $170.00 to $120.00 in a research note on Thursday, May 5th. StockNews.com raised shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Wednesday, June 1st. Finally, Wells Fargo & Company boosted their target price on shares of Tandem Diabetes Care from $160.00 to $166.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 23rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $143.00.

Shares of NASDAQ TNDM opened at $54.46 on Monday. Tandem Diabetes Care has a twelve month low of $53.96 and a twelve month high of $155.86. The firm has a market cap of $3.48 billion, a PE ratio of 680.84 and a beta of 0.69. The business has a fifty day simple moving average of $85.46 and a two-hundred day simple moving average of $110.10. The company has a quick ratio of 5.60, a current ratio of 6.21 and a debt-to-equity ratio of 0.64.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($0.23) EPS for the quarter. Tandem Diabetes Care had a net margin of 0.80% and a return on equity of 1.64%. The business had revenue of $175.91 million during the quarter, compared to the consensus estimate of $168.21 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, research analysts expect that Tandem Diabetes Care will post 0.35 earnings per share for the current year.

In other news, Director Christopher J. Twomey sold 248 shares of Tandem Diabetes Care stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $111.73, for a total value of $27,709.04. Following the completion of the sale, the director now directly owns 5,112 shares of the company’s stock, valued at $571,163.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO David B. Berger sold 10,097 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $65.02, for a total value of $656,506.94. Following the transaction, the chief operating officer now directly owns 2,457 shares in the company, valued at approximately $159,754.14. The disclosure for this sale can be found here. Over the last three months, insiders bought 5,000 shares of company stock worth $361,270 and sold 22,607 shares worth $1,829,208. Company insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in TNDM. BlackRock Inc. raised its position in Tandem Diabetes Care by 11.6% in the 4th quarter. BlackRock Inc. now owns 6,478,638 shares of the medical device company’s stock valued at $975,164,000 after purchasing an additional 672,004 shares during the last quarter. Norges Bank acquired a new stake in shares of Tandem Diabetes Care during the fourth quarter worth about $88,715,000. FMR LLC grew its holdings in shares of Tandem Diabetes Care by 248.9% during the first quarter. FMR LLC now owns 705,789 shares of the medical device company’s stock worth $44,818,000 after buying an additional 503,482 shares during the last quarter. Bank of New York Mellon Corp increased its position in Tandem Diabetes Care by 139.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 580,695 shares of the medical device company’s stock valued at $69,323,000 after acquiring an additional 337,838 shares during the period. Finally, Invesco Ltd. increased its position in Tandem Diabetes Care by 11.8% in the 4th quarter. Invesco Ltd. now owns 1,942,971 shares of the medical device company’s stock valued at $292,456,000 after acquiring an additional 205,453 shares during the period. 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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