Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Lowered by Wall Street Zen

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently commented on TNDM. Piper Sandler lowered their price target on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Canaccord Genuity Group lifted their price target on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. The Goldman Sachs Group lowered their price target 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. Barclays lowered their price target on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Mizuho started coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They set a “neutral” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.43.

Tandem Diabetes Care Trading Down 0.9%

TNDM opened at $20.22 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.81 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $1.35 billion, a PE ratio of -7.27 and a beta of 1.52. Tandem Diabetes Care has a 1-year low of $15.75 and a 1-year high of $48.24. The firm has a 50-day moving average price of $20.25 and a two-hundred day moving average price of $26.13.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results 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). Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. The business had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. During the same quarter in the prior year, the firm earned ($0.65) EPS. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. As a group, equities analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TNDM. Van ECK Associates Corp lifted its stake in Tandem Diabetes Care by 28.1% in the fourth quarter. Van ECK Associates Corp now owns 4,901 shares of the medical device company’s stock valued at $177,000 after buying an additional 1,074 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Tandem Diabetes Care by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 388,347 shares of the medical device company’s stock valued at $13,988,000 after buying an additional 18,025 shares in the last quarter. Truist Financial Corp lifted its stake in Tandem Diabetes Care by 2.1% in the fourth quarter. Truist Financial Corp now owns 119,561 shares of the medical device company’s stock valued at $4,307,000 after buying an additional 2,434 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Tandem Diabetes Care by 5,955.9% in the fourth quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company’s stock valued at $74,000 after buying an additional 2,025 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in Tandem Diabetes Care by 18.1% in the fourth quarter. Private Advisor Group LLC now owns 6,135 shares of the medical device company’s stock valued at $221,000 after buying an additional 939 shares in 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.