Wells Fargo & Company Issues Pessimistic Forecast for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its target price dropped by stock analysts at Wells Fargo & Company from $22.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the medical device company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 6.89% from the stock’s current price.

A number of other analysts have also recently commented on the stock. 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 research report on Wednesday, March 5th. Sanford C. Bernstein cut 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 note on Friday, February 28th. Barclays dropped their price target on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group reduced their price objective on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Royal Bank of Canada dropped 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 report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.81.

Tandem Diabetes Care Trading Up 7.5 %

Shares of TNDM stock opened at $21.48 on Thursday. Tandem Diabetes Care has a 1-year low of $15.75 and a 1-year 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 has a market cap of $1.43 billion, a price-to-earnings ratio of -11.13 and a beta of 1.52. The stock has a 50-day moving average of $18.80 and a 200-day moving average of $28.63.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.65) EPS. On average, equities research analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Insider Activity

In other news, COO Jean-Claude Kyrillos bought 10,538 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the acquisition, the chief operating officer now directly owns 10,538 shares in the company, valued at approximately $190,948.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Tandem Diabetes Care by 1.1% during the 4th 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 in the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Tandem Diabetes Care by 14.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock valued at $98,108,000 after acquiring an additional 337,026 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in Tandem Diabetes Care by 18.0% during the fourth quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock worth $76,488,000 after acquiring an additional 323,674 shares during the period. Stephens Investment Management Group LLC boosted its position in Tandem Diabetes Care by 9.7% in the first 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock valued at $59,830,000 after purchasing an additional 1,086,337 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.