Tandem Diabetes Care (NASDAQ:TNDM) Rating Lowered to Sell at StockNews.com

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other research firms have also recently commented on TNDM. Stifel Nicolaus upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and raised their target price for the stock from $24.00 to $37.00 in a research note on Tuesday, March 26th. Citigroup upped their price target on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.00.

Tandem Diabetes Care Price Performance

TNDM opened at $33.50 on Thursday. The stock’s 50-day moving average price is $29.12 and its 200 day moving average price is $24.49. Tandem Diabetes Care has a 12-month low of $13.82 and a 12-month high of $42.40. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -9.74 and a beta of 1.12.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. The company had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $204.86 million. As a group, sell-side analysts expect that Tandem Diabetes Care will post -1.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TNDM. BlackRock Inc. raised its position in Tandem Diabetes Care by 45.1% in the first quarter. BlackRock Inc. now owns 9,207,560 shares of the medical device company’s stock valued at $373,919,000 after purchasing an additional 2,861,120 shares during the period. Vanguard Group Inc. grew its stake in shares of Tandem Diabetes Care by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company’s stock valued at $207,708,000 after acquiring an additional 18,571 shares in the last quarter. Eminence Capital LP grew its stake in shares of Tandem Diabetes Care by 76.1% during the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock valued at $114,028,000 after acquiring an additional 2,372,458 shares in the last quarter. State Street Corp grew its stake in shares of Tandem Diabetes Care by 9.2% during the second quarter. State Street Corp now owns 2,257,428 shares of the medical device company’s stock valued at $55,397,000 after acquiring an additional 190,499 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Tandem Diabetes Care by 7.1% in the first quarter. Invesco Ltd. now owns 2,080,173 shares of the medical device company’s stock worth $241,904,000 after purchasing an additional 137,202 shares in the last quarter.

About Tandem Diabetes Care

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.