Robert W. Baird Has Lowered Expectations for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its target price decreased by analysts at Robert W. Baird from $33.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical device company’s stock. Robert W. Baird’s target price would suggest a potential upside of 11.73% from the company’s current price.

TNDM has been the topic of a number of other reports. Royal Bank of Canada cut their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley cut shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $45.00 to $22.00 in a report on Wednesday, March 5th. Citigroup downgraded shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $24.00 in a research report on Tuesday, March 4th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a research report on Monday, March 3rd. Finally, Barclays reduced their price target on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.81.

Tandem Diabetes Care Trading Up 7.5 %

NASDAQ:TNDM opened at $21.48 on Thursday. The firm has a market capitalization of $1.43 billion, a P/E ratio of -11.13 and a beta of 1.52. Tandem Diabetes Care has a 52 week low of $15.75 and a 52 week high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average of $18.80 and a 200 day moving average of $28.63.

Tandem Diabetes Care (NASDAQ:TNDM) last issued 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 the consensus estimate 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 was up 22.3% on a year-over-year basis. During the same period last year, the company posted ($0.65) earnings per share. On average, research analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Insider Transactions at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the purchase, the chief operating officer now owns 10,538 shares of the company’s stock, valued at $190,948.56. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Tandem Diabetes Care by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after buying an additional 77,451 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in Tandem Diabetes Care by 14.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock worth $98,108,000 after acquiring an additional 337,026 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Tandem Diabetes Care by 18.0% during the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock valued at $76,488,000 after purchasing an additional 323,674 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Tandem Diabetes Care by 9.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,706,915 shares of the medical device company’s stock worth $32,704,000 after purchasing an additional 151,106 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Tandem Diabetes Care by 189.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock worth $59,830,000 after purchasing an additional 1,086,337 shares during 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.