Tandem Diabetes Care (NASDAQ:TNDM) Upgraded to “Hold” at StockNews.com

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

Several other brokerages have also recently weighed in on TNDM. Citigroup boosted their price objective on Tandem Diabetes Care from $31.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and boosted their target price for the company from $24.00 to $37.00 in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Hold” and a consensus price target of $37.00.

Tandem Diabetes Care Stock Down 2.6 %

NASDAQ TNDM opened at $30.93 on Friday. The stock has a 50 day moving average price of $29.64 and a 200-day moving average price of $24.76. Tandem Diabetes Care has a one year low of $13.82 and a one year high of $41.22. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.02 and a current ratio of 3.83. The company has a market capitalization of $2.00 billion, a P/E ratio of -8.99 and a beta of 1.12.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Wednesday, February 21st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Tandem Diabetes Care had a negative net margin of 29.77% and a negative return on equity of 31.48%. The business had revenue of $196.80 million for the quarter, compared to the consensus estimate of $204.86 million. As a group, equities analysts predict that Tandem Diabetes Care will post -1.62 EPS for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently bought and sold shares of TNDM. PNC Financial Services Group Inc. raised its stake in shares of Tandem Diabetes Care by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company’s stock valued at $726,000 after acquiring an additional 164 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Tandem Diabetes Care by 3.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company’s stock valued at $654,000 after purchasing an additional 184 shares in the last quarter. State of Wyoming lifted its holdings in shares of Tandem Diabetes Care by 45.8% in the 4th quarter. State of Wyoming now owns 821 shares of the medical device company’s stock worth $37,000 after buying an additional 258 shares during the period. Stephens Inc. AR grew its position in shares of Tandem Diabetes Care by 17.6% during the 1st quarter. Stephens Inc. AR now owns 2,120 shares of the medical device company’s stock worth $86,000 after buying an additional 317 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Tandem Diabetes Care by 0.3% during the second quarter. Legal & General Group Plc now owns 97,817 shares of the medical device company’s stock valued at $5,790,000 after buying an additional 318 shares during the period.

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.