Piper Sandler Cuts Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $30.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective cut by Piper Sandler from $36.00 to $30.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the medical device company’s stock.

Several other analysts also recently weighed in on the company. Barclays decreased their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Royal Bank of Canada lowered their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Mizuho started coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They set a “neutral” rating and a $20.00 target price on the stock. Citigroup lowered Tandem Diabetes Care from a “buy” rating to a “neutral” rating and lowered their price target for the company from $35.00 to $24.00 in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein lowered Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.81.

Tandem Diabetes Care Price Performance

Tandem Diabetes Care stock opened at $21.48 on Thursday. The firm has a market capitalization of $1.43 billion, a PE ratio of -11.13 and a beta of 1.52. Tandem Diabetes Care has a 12-month low of $15.75 and a 12-month high of $53.69. The firm has a 50-day moving average price of $18.80 and a 200-day moving average price of $28.57. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $234.42 million for the quarter, compared to analysts’ expectations of $220.19 million. During the same quarter last year, the firm earned ($0.65) EPS. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts forecast that Tandem Diabetes Care will post -1.68 EPS for the current year.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos acquired 10,538 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the acquisition, the chief operating officer now owns 10,538 shares in the company, valued at approximately $190,948.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors have recently added to or reduced their stakes in TNDM. Arizona State Retirement System raised its position in shares of Tandem Diabetes Care by 1.9% in the 4th quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock valued at $683,000 after purchasing an additional 362 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Tandem Diabetes Care by 4.3% during the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock worth $360,000 after buying an additional 409 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of Tandem Diabetes Care by 8.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock valued at $247,000 after buying an additional 525 shares during the last quarter. Assetmark Inc. increased its position in shares of Tandem Diabetes Care by 77.5% in the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after acquiring an additional 535 shares during the period. Finally, AlphaQuest LLC raised its stake in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after acquiring an additional 541 shares during 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.