Piper Sandler Has Lowered Expectations for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its price target reduced by investment analysts at Piper Sandler from $36.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. Piper Sandler’s price target would suggest a potential upside of 39.66% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Mizuho initiated coverage on shares of Tandem Diabetes Care in a report on Thursday, April 10th. They issued a “neutral” rating and a $20.00 price objective for the company. Citigroup downgraded Tandem Diabetes Care from a “buy” rating to a “neutral” rating and lowered their price target for the company from $35.00 to $24.00 in a report on Tuesday, March 4th. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Royal Bank of Canada lowered their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Robert W. Baird reduced their price target on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.81.

Tandem Diabetes Care Trading Up 7.5 %

NASDAQ TNDM opened at $21.48 on Thursday. Tandem Diabetes Care has a 12 month low of $15.75 and a 12 month high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average price is $18.80 and its 200-day moving average price is $28.63. The stock has a market cap of $1.43 billion, a P/E ratio of -11.13 and a beta of 1.52.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The firm had revenue of $234.42 million for the quarter, compared to analysts’ expectations of $220.19 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the company posted ($0.65) earnings per share. As a group, equities analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Buying and Selling at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos bought 10,538 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the transaction, the chief operating officer now owns 10,538 shares of the company’s stock, valued at approximately $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC grew its stake in shares of Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 541 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after purchasing an additional 748 shares during the period. McIlrath & Eck LLC purchased a new stake in shares of Tandem Diabetes Care in the third quarter worth $52,000. Assetmark Inc. raised its position in shares of Tandem Diabetes Care by 77.5% during the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after purchasing an additional 535 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Tandem Diabetes Care by 163.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after buying an additional 1,101 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.