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

StockNews.com cut shares of Tandem Diabetes Care (NASDAQ:TNDMGet Rating) from a hold rating to a sell rating in a research note published on Wednesday.

Several other brokerages have also recently weighed in on TNDM. Bank of America began coverage on shares of Tandem Diabetes Care in a research report on Wednesday, March 2nd. They issued a neutral rating and a $130.00 price target for the company. Citigroup reduced their price objective on shares of Tandem Diabetes Care from $155.00 to $130.00 in a research note on Tuesday, May 17th. Wells Fargo & Company boosted their price objective on shares of Tandem Diabetes Care from $160.00 to $166.00 and gave the stock an overweight rating in a research note on Wednesday, February 23rd. Piper Sandler reduced their price objective on shares of Tandem Diabetes Care from $170.00 to $120.00 in a research note on Thursday, May 5th. Finally, Oppenheimer reduced their price objective on shares of Tandem Diabetes Care from $142.00 to $130.00 in a research note on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $143.00.

Shares of TNDM opened at $56.50 on Wednesday. The company has a 50 day moving average price of $79.08 and a 200-day moving average price of $107.55. Tandem Diabetes Care has a fifty-two week low of $52.69 and a fifty-two week high of $155.86. The stock has a market capitalization of $3.61 billion, a PE ratio of 706.34 and a beta of 0.69. The company has a debt-to-equity ratio of 0.64, a quick ratio of 5.60 and a current ratio of 6.21.

Tandem Diabetes Care (NASDAQ:TNDMGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($0.23) earnings per share for the quarter. Tandem Diabetes Care had a return on equity of 1.64% and a net margin of 0.80%. The business had revenue of $175.91 million during the quarter, compared to analysts’ expectations of $168.21 million. During the same period in the previous year, the company posted ($0.07) EPS. Tandem Diabetes Care’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities research analysts forecast that Tandem Diabetes Care will post 0.35 EPS for the current year.

In other news, COO David B. Berger sold 10,097 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $65.02, for a total value of $656,506.94. Following the sale, the chief operating officer now directly owns 2,457 shares of the company’s stock, valued at approximately $159,754.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rebecca B. Robertson sold 1,500 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $96.73, for a total transaction of $145,095.00. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 5,000 shares of company stock worth $361,270 and have sold 22,607 shares worth $1,829,208. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TNDM. HighTower Advisors LLC boosted its holdings in shares of Tandem Diabetes Care by 59.4% in the 3rd quarter. HighTower Advisors LLC now owns 6,625 shares of the medical device company’s stock valued at $783,000 after acquiring an additional 2,469 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Tandem Diabetes Care by 9.6% in the 3rd quarter. Morgan Stanley now owns 309,858 shares of the medical device company’s stock valued at $36,991,000 after acquiring an additional 27,031 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Tandem Diabetes Care by 8.3% in the 3rd quarter. Guggenheim Capital LLC now owns 14,247 shares of the medical device company’s stock valued at $1,701,000 after acquiring an additional 1,086 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at $1,887,000. Finally, MML Investors Services LLC boosted its holdings in shares of Tandem Diabetes Care by 6.3% in the 3rd quarter. MML Investors Services LLC now owns 2,563 shares of the medical device company’s stock valued at $306,000 after acquiring an additional 151 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

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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