Mizuho Cuts Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $20.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target decreased by Mizuho from $24.00 to $20.00 in a research report sent to investors on Wednesday,Benzinga reports. Mizuho currently has a neutral rating on the medical device company’s stock.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group set a $21.00 target price on Tandem Diabetes Care in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft began coverage on Tandem Diabetes Care in a research note on Tuesday, June 23rd. They set a “hold” rating and a $15.50 price target for the company. Truist Financial reaffirmed a “buy” rating and set a $31.00 price target (down from $35.00) on shares of Tandem Diabetes Care in a research report on Monday, May 11th. Bank of America lowered their price objective on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Finally, Rothschild & Co Redburn set a $45.00 price objective on shares of Tandem Diabetes Care in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.93.

Tandem Diabetes Care Price Performance

Shares of TNDM opened at $17.08 on Wednesday. The firm has a market cap of $1.17 billion, a PE ratio of -12.20 and a beta of 1.58. 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 firm has a fifty day simple moving average of $15.82 and a two-hundred day simple moving average of $19.22. 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 released its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $247.22 million for the quarter, compared to analysts’ expectations of $240.41 million. During the same period in the prior year, the firm earned ($0.66) EPS. The company’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Tandem Diabetes Care will post -0.72 EPS for the current year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors and hedge funds have recently modified their holdings of TNDM. Vanguard Group Inc. boosted its holdings in Tandem Diabetes Care by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after buying an additional 278,042 shares during the period. Jennison Associates LLC raised its holdings in Tandem Diabetes Care by 42.3% during the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock valued at $44,430,000 after acquiring an additional 601,260 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Tandem Diabetes Care in the third quarter valued at about $22,706,000. Goldman Sachs Group Inc. lifted its position in shares of Tandem Diabetes Care by 17.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,683,400 shares of the medical device company’s stock valued at $37,001,000 after acquiring an additional 252,028 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Tandem Diabetes Care by 11.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,653,708 shares of the medical device company’s stock worth $36,349,000 after acquiring an additional 171,755 shares during the period.

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.