Tandem Diabetes Care (NASDAQ:TNDM) Downgraded to “Sell” Rating by Wall Street Zen

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird dropped their price target on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Canaccord Genuity Group upped their target price on Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Morgan Stanley downgraded Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Sanford C. Bernstein lowered Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $35.00 to $25.00 in a report on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price target on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.43.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $20.22 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -7.27 and a beta of 1.52. The company has a 50 day simple moving average of $20.25 and a 200-day simple moving average of $26.06. Tandem Diabetes Care has a 52-week low of $15.75 and a 52-week high of $48.24.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The company had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. During the same quarter in the prior year, the company posted ($0.65) EPS. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. Equities research analysts predict that Tandem Diabetes Care will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TNDM. Vanguard Group Inc. lifted its holdings in Tandem Diabetes Care by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after purchasing an additional 77,451 shares during the last quarter. Sessa Capital IM L.P. acquired a new stake in shares of Tandem Diabetes Care in the first quarter worth $85,574,000. GW&K Investment Management LLC lifted its stake in shares of Tandem Diabetes Care by 34.9% in the first quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock worth $54,874,000 after buying an additional 740,499 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Tandem Diabetes Care by 14.1% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock worth $98,108,000 after buying an additional 337,026 shares during the period. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Tandem Diabetes Care by 9.7% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,706,915 shares of the medical device company’s stock worth $32,704,000 after buying an additional 151,106 shares during the period.

Tandem Diabetes Care Company Profile

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.