Stifel Nicolaus Issues Pessimistic Forecast for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its price target lowered by equities research analysts at Stifel Nicolaus from $60.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 44.32% from the company’s current price.

Several other research analysts have also recently commented on TNDM. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. Barclays decreased their price objective on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company cut their target price on Tandem Diabetes Care from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday. The Goldman Sachs Group decreased their price target on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Finally, Mizuho began coverage on shares of Tandem Diabetes Care in a research note on Thursday, April 10th. They set a “neutral” rating and a $20.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.81.

Tandem Diabetes Care Trading Up 7.5 %

Shares of NASDAQ TNDM opened at $21.48 on Thursday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -11.13 and a beta of 1.52. The stock’s 50 day simple moving average is $18.80 and its 200 day simple moving average is $28.63. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a 12-month low of $15.75 and a 12-month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted ($0.65) EPS. Equities research analysts expect that Tandem Diabetes Care will post -1.68 EPS for the current year.

Insider Buying and Selling

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of the business’s stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $18.12 per share, with a total value of $190,948.56. Following the transaction, the chief operating officer now directly owns 10,538 shares in the company, valued at approximately $190,948.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Tandem Diabetes Care

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Tandem Diabetes Care by 134.6% during the third quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock worth $8,379,000 after buying an additional 113,355 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Tandem Diabetes Care by 163.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after acquiring an additional 1,101 shares during the period. US Bancorp DE raised its stake in Tandem Diabetes Care by 15.2% during the 4th quarter. US Bancorp DE now owns 38,708 shares of the medical device company’s stock valued at $1,394,000 after purchasing an additional 5,108 shares during the last quarter. KBC Group NV boosted its holdings in Tandem Diabetes Care by 41.5% in the 4th quarter. KBC Group NV now owns 192,479 shares of the medical device company’s stock valued at $6,933,000 after purchasing an additional 56,461 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in Tandem Diabetes Care by 22.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company’s stock worth $236,000 after purchasing an additional 1,184 shares during 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.