Mizuho Has Lowered Expectations for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its price target lowered by investment analysts at Mizuho from $24.00 to $20.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the medical device company’s stock. Mizuho’s price objective would suggest a potential upside of 22.77% from the company’s current price.

Other analysts also recently issued reports about the company. Wells Fargo & Company upgraded Tandem Diabetes Care from a “buy” rating to an “overweight” rating and upped their target price for the company from $21.00 to $27.00 in a research report on Monday, June 1st. Barclays set a $55.00 price target on Tandem Diabetes Care and gave the stock an “overweight” rating in a research report on Monday, May 11th. Rothschild & Co Redburn set a $45.00 price target on Tandem Diabetes Care in a research note on Friday, April 24th. Citigroup reaffirmed a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Tandem Diabetes Care in a research report on Thursday, May 28th. Finally, Benchmark began coverage on shares of Tandem Diabetes Care in a research note on Monday, May 11th. They set a “hold” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Tandem Diabetes Care presently has an average rating of “Hold” and an average target price of $28.93.

Tandem Diabetes Care Stock Up 6.6%

NASDAQ TNDM opened at $16.29 on Wednesday. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -11.64 and a beta of 1.58. The company has a 50 day moving average of $15.79 and a 200-day moving average of $19.24. Tandem Diabetes Care has a 1-year low of $9.98 and a 1-year high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The business had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. During the same quarter in the prior year, the business posted ($0.66) earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Tandem Diabetes Care will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently modified their holdings of the business. State of Alaska Department of Revenue raised its holdings in shares of Tandem Diabetes Care by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company’s stock worth $849,000 after buying an additional 523 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Tandem Diabetes Care by 4.6% during the 4th quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company’s stock worth $290,000 after buying an additional 579 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after buying an additional 593 shares in the last quarter. Natixis Advisors LLC boosted its stake in Tandem Diabetes Care by 1.1% in the fourth quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company’s stock valued at $1,253,000 after buying an additional 617 shares in the last quarter. Finally, LPL Financial LLC grew its position in Tandem Diabetes Care by 1.8% in the fourth quarter. LPL Financial LLC now owns 39,590 shares of the medical device company’s stock valued at $870,000 after acquiring an additional 716 shares during the last quarter.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.