Tandem Diabetes Care (NASDAQ:TNDM – Free Report) had its target price lowered by Jefferies Financial Group from $47.00 to $45.00 in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the medical device company’s stock.
Other analysts have also recently issued reports about the stock. Craig Hallum dropped their price target on shares of Tandem Diabetes Care from $74.00 to $50.00 in a research note on Tuesday, June 13th. TD Cowen lowered their target price on shares of Tandem Diabetes Care from $52.00 to $34.00 and set an outperform rating on the stock in a research note on Friday, August 4th. Robert W. Baird lowered their target price on shares of Tandem Diabetes Care from $33.00 to $32.00 and set a neutral rating on the stock in a research note on Monday, August 21st. Barclays lowered their target price on shares of Tandem Diabetes Care from $71.00 to $62.00 and set an overweight rating on the stock in a research note on Friday, August 4th. Finally, StockNews.com started coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 17th. They issued a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $44.27.
View Our Latest Analysis on Tandem Diabetes Care
Tandem Diabetes Care Stock Down 3.1 %
Tandem Diabetes Care stock opened at $20.35 on Monday. Tandem Diabetes Care has a twelve month low of $19.11 and a twelve month high of $58.82. The firm has a 50 day moving average price of $26.44 and a 200-day moving average price of $30.39. The company has a market capitalization of $1.32 billion, a P/E ratio of -5.85 and a beta of 0.93. The company has a quick ratio of 3.53, a current ratio of 4.38 and a debt-to-equity ratio of 0.86.
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last released its earnings results on Thursday, August 3rd. The medical device company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.24. The firm had revenue of $195.92 million during the quarter, compared to the consensus estimate of $201.62 million. Tandem Diabetes Care had a negative net margin of 28.40% and a negative return on equity of 20.29%. As a group, equities analysts predict that Tandem Diabetes Care will post -1.49 EPS for the current year.
Institutional Investors Weigh In On Tandem Diabetes Care
Several institutional investors and hedge funds have recently modified their holdings of TNDM. JPMorgan Chase & Co. lifted its position in shares of Tandem Diabetes Care by 40.5% in the 1st quarter. JPMorgan Chase & Co. now owns 133,397 shares of the medical device company’s stock worth $15,512,000 after purchasing an additional 38,460 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Tandem Diabetes Care by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company’s stock worth $726,000 after purchasing an additional 164 shares during the period. Great West Life Assurance Co. Can lifted its position in Tandem Diabetes Care by 7.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 34,482 shares of the medical device company’s stock valued at $4,122,000 after acquiring an additional 2,402 shares during the period. Dimensional Fund Advisors LP lifted its position in Tandem Diabetes Care by 68.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 185,408 shares of the medical device company’s stock valued at $21,561,000 after acquiring an additional 75,358 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in Tandem Diabetes Care by 3.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company’s stock valued at $654,000 after acquiring an additional 184 shares during the period.
About Tandem Diabetes Care
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company’s flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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