Citigroup Reaffirms Sell Rating for Tandem Diabetes Care (NASDAQ:TNDM)

Tandem Diabetes Care (NASDAQ:TNDM)‘s stock had its “sell” rating reissued by equities research analysts at Citigroup in a report issued on Wednesday, Marketbeat.com reports. They currently have a $14.00 price objective on the medical device company’s stock, down from their previous price objective of $24.00. Citigroup’s target price would suggest a potential downside of 13.42% from the stock’s current price.

TNDM has been the topic of a number of other reports. Mizuho started coverage on Tandem Diabetes Care in a report on Thursday, April 10th. They set a “neutral” rating and a $20.00 price target on the stock. Stifel Nicolaus decreased their price target on Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Piper Sandler decreased their price target on Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company decreased their price target on Tandem Diabetes Care from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial initiated coverage on Tandem Diabetes Care in a report on Monday, June 16th. They set a “hold” rating and a $24.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus price target of $32.71.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $16.17 on Wednesday. Tandem Diabetes Care has a one year low of $15.17 and a one year high of $48.24. The stock’s fifty day moving average is $20.41 and its 200 day moving average is $24.64. The stock has a market cap of $1.08 billion, a P/E ratio of -5.82 and a beta of 1.48. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.81 and a current ratio of 2.30.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $234.42 million during the quarter, compared to the consensus estimate of $220.19 million. During the same period in the prior year, the business posted ($0.65) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts anticipate that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Voya Investment Management LLC raised its stake in shares of Tandem Diabetes Care by 39.2% during the first quarter. Voya Investment Management LLC now owns 136,698 shares of the medical device company’s stock valued at $2,619,000 after acquiring an additional 38,519 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of Tandem Diabetes Care during the first quarter valued at approximately $343,000. Acadian Asset Management LLC bought a new stake in shares of Tandem Diabetes Care during the first quarter valued at approximately $4,457,000. Bayforest Capital Ltd raised its stake in shares of Tandem Diabetes Care by 197.0% during the first quarter. Bayforest Capital Ltd now owns 26,288 shares of the medical device company’s stock valued at $504,000 after acquiring an additional 17,436 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Tandem Diabetes Care by 9.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 193,993 shares of the medical device company’s stock valued at $3,717,000 after acquiring an additional 16,254 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.