Tandem Diabetes Care (NASDAQ:TNDM) Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a sell rating to a hold rating in a report published on Friday morning.

TNDM has been the topic of a number of other research reports. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. Mizuho began coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They set a “neutral” rating and a $20.00 price objective on the stock. Royal Bank of Canada cut their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Barclays cut their price objective on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Robert W. Baird cut their price objective on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.86.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock opened at $20.78 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $19.55 and a two-hundred day moving average price of $26.85. Tandem Diabetes Care has a 1-year low of $15.75 and a 1-year high of $50.22. The company has a market cap of $1.38 billion, a P/E ratio of -10.77 and a beta of 1.52.

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

Hedge Funds Weigh In On Tandem Diabetes Care

Several large investors have recently added to or reduced their stakes in the business. Sessa Capital IM L.P. purchased a new stake in Tandem Diabetes Care in the 1st quarter valued at about $85,574,000. Hood River Capital Management LLC purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at about $46,035,000. Jacobs Levy Equity Management Inc. increased its stake in Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock valued at $59,830,000 after buying an additional 1,086,337 shares during the last quarter. Brown Advisory Inc. purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at about $32,889,000. Finally, GW&K Investment Management LLC increased its stake in Tandem Diabetes Care by 34.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock valued at $54,874,000 after buying an additional 740,499 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.