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.
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.
- Get a free copy of the StockNews.com research report on Tandem Diabetes Care (TNDM)
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