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

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective decreased by research analysts at Mizuho from $24.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical device company’s stock. Mizuho’s price target would suggest a potential upside of 28.73% from the company’s previous close.

Other analysts also recently issued research reports about the company. Weiss Ratings downgraded Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Wells Fargo & Company raised Tandem Diabetes Care from a “buy” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $27.00 in a research report on Monday, June 1st. The Goldman Sachs Group set a $21.00 price objective on Tandem Diabetes Care in a report on Wednesday, May 27th. Rothschild & Co Redburn set a $45.00 target price on Tandem Diabetes Care in a research note on Friday, April 24th. Finally, Zacks Research cut Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.93.

Tandem Diabetes Care Trading Down 0.0%

Shares of TNDM stock traded down $0.00 during trading hours on Wednesday, hitting $15.54. 496,498 shares of the company were exchanged, compared to its average volume of 2,142,750. The company has a quick ratio of 3.07, a current ratio of 3.58 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. The firm has a market cap of $1.06 billion, a PE ratio of -11.11 and a beta of 1.58. The firm has a fifty day moving average of $15.89 and a 200 day moving average of $19.33.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.16. The company had revenue of $247.22 million for the quarter, compared to analyst estimates of $240.41 million. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted ($0.66) earnings per share. Analysts expect that Tandem Diabetes Care will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Tandem Diabetes Care

Several institutional investors and hedge funds have recently modified their holdings of TNDM. Vanguard Group Inc. increased its stake in Tandem Diabetes Care by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after acquiring an additional 278,042 shares during the last quarter. Jennison Associates LLC increased its stake in Tandem Diabetes Care by 42.3% in 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 purchasing an additional 601,260 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Tandem Diabetes Care in the 4th quarter valued at $26,988,000. WINTON GROUP Ltd bought a new stake in Tandem Diabetes Care during the 4th quarter worth approximately $972,000. Finally, Baillie Gifford & Co. grew its stake in shares of Tandem Diabetes Care by 2.2% in the 4th quarter. Baillie Gifford & Co. now owns 1,145,516 shares of the medical device company’s stock worth $25,178,000 after acquiring an additional 24,921 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.