Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Lowered by Zacks Research

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Benchmark initiated coverage on shares of Tandem Diabetes Care in a report on Monday, May 11th. They issued a “hold” rating on the stock. Barclays set a $55.00 price target on shares of Tandem Diabetes Care and gave the stock an “overweight” rating in a research report on Monday, May 11th. UBS Group restated a “neutral” rating and issued a $22.00 price target (up from $17.00) on shares of Tandem Diabetes Care in a research report on Friday, February 20th. Bank of America reduced their price target on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Finally, Rothschild & Co Redburn set a $45.00 price target on shares of Tandem Diabetes Care in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus price target of $29.84.

Tandem Diabetes Care Price Performance

TNDM stock opened at $15.80 on Wednesday. Tandem Diabetes Care has a one year low of $9.98 and a one year high of $29.65. The company’s fifty day moving average price is $17.79 and its 200-day moving average price is $20.28. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. The company has a market capitalization of $1.08 billion, a PE ratio of -11.29 and a beta of 1.58.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The firm had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. During the same quarter in the previous year, the firm earned ($0.66) earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Tandem Diabetes Care will post -0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in Tandem Diabetes Care by 30.8% during the first quarter. California State Teachers Retirement System now owns 84,255 shares of the medical device company’s stock valued at $1,615,000 after acquiring an additional 19,844 shares during the last quarter. Quantinno Capital Management LP increased its position in Tandem Diabetes Care by 123.5% during the first quarter. Quantinno Capital Management LP now owns 653,870 shares of the medical device company’s stock valued at $12,535,000 after acquiring an additional 361,361 shares during the last quarter. First Light Asset Management LLC increased its position in Tandem Diabetes Care by 20.7% during the first quarter. First Light Asset Management LLC now owns 1,314,715 shares of the medical device company’s stock valued at $25,203,000 after acquiring an additional 225,222 shares during the last quarter. Rice Hall James & Associates LLC increased its position in Tandem Diabetes Care by 16.8% during the first quarter. Rice Hall James & Associates LLC now owns 72,878 shares of the medical device company’s stock valued at $1,397,000 after acquiring an additional 10,463 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Tandem Diabetes Care during the first quarter valued at $1,116,000.

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.