Tandem Diabetes Care’s (TNDM) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (e+) rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research report released on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued reports about the company. UBS Group lowered their target price on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Truist Financial initiated coverage on Tandem Diabetes Care in a research note on Monday, June 16th. They issued a “hold” rating and a $24.00 target price for the company. Wells Fargo & Company lowered their target price on Tandem Diabetes Care from $20.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. Oppenheimer initiated coverage on Tandem Diabetes Care in a research note on Monday, September 8th. They issued an “outperform” rating and a $22.00 target price for the company. Finally, Piper Sandler lowered Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $30.00 to $14.00 in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.69.

Tandem Diabetes Care Stock Down 5.5%

Tandem Diabetes Care stock opened at $14.00 on Wednesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $38.94. The stock’s fifty day moving average is $12.51 and its two-hundred day moving average is $16.61. The firm has a market capitalization of $945.98 million, a price-to-earnings ratio of -4.53 and a beta of 1.48.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.08). Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The business had revenue of $240.68 million for the quarter, compared to analysts’ expectations of $238.39 million. During the same quarter last year, the company posted ($0.47) earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts predict that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, CEO John F. Sheridan bought 10,000 shares of the business’s stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $10.23 per share, with a total value of $102,300.00. Following the purchase, the chief executive officer directly owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. The trade was a 10.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Leigh Vosseller bought 13,720 shares of the business’s stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $10.89 per share, for a total transaction of $149,410.80. Following the purchase, the chief financial officer directly owned 25,580 shares in the company, valued at $278,566.20. This represents a 115.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds have recently modified their holdings of TNDM. Assetmark Inc. grew its holdings in shares of Tandem Diabetes Care by 42.9% in the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock worth $34,000 after acquiring an additional 525 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Tandem Diabetes Care in the 1st quarter worth $37,000. CWM LLC grew its holdings in shares of Tandem Diabetes Care by 262.6% in the 2nd quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after acquiring an additional 2,025 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Tandem Diabetes Care by 417.8% in the 1st quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock worth $65,000 after acquiring an additional 2,741 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Tandem Diabetes Care by 186.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock valued at $78,000 after buying an additional 2,717 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.