Tandem Diabetes Care (NASDAQ:TNDM) Lowered to “Hold” Rating by Zacks Research

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings upgraded shares of Tandem Diabetes Care from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Benchmark initiated coverage on shares of Tandem Diabetes Care in a report on Monday, May 11th. They issued a “hold” rating on the stock. Stifel Nicolaus lifted their target price on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Wells Fargo & Company upgraded shares of Tandem Diabetes Care from a “buy” rating to an “overweight” rating and lifted their target price for the stock from $21.00 to $27.00 in a report on Monday, June 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.84.

Tandem Diabetes Care Stock Down 2.6%

Tandem Diabetes Care stock opened at $15.80 on Wednesday. The company has a market capitalization of $1.08 billion, a P/E ratio of -11.29 and a beta of 1.58. The firm’s fifty day simple moving average is $17.79 and its 200-day simple moving average is $20.28. The company has a current ratio of 3.58, a quick ratio of 3.07 and a debt-to-equity ratio of 4.54. 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 announced its earnings results on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.16. The firm had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.66) EPS. Sell-side analysts forecast that Tandem Diabetes Care will post -0.74 earnings per share for the current fiscal year.

Institutional Trading of Tandem Diabetes Care

Several institutional investors have recently made changes to their positions in TNDM. Caitong International Asset Management Co. Ltd boosted its position in shares of Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 593 shares in the last quarter. OP Asset Management Ltd acquired a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at about $35,000. Quarry LP boosted its position in shares of Tandem Diabetes Care by 2,597.1% during the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 3,558 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Tandem Diabetes Care by 485.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock valued at $63,000 after acquiring an additional 4,269 shares in the last quarter.

About Tandem Diabetes Care

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.