Mizuho Upgrades Tandem Diabetes Care (NASDAQ:TNDM) to Hold

Tandem Diabetes Care (NASDAQ:TNDM) was upgraded by equities research analysts at Mizuho to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Citigroup lowered Tandem Diabetes Care from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $35.00 to $24.00 in a research note on Tuesday, March 4th. Morgan Stanley lowered shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Wells Fargo & Company reiterated an “equal weight” rating and set a $22.00 price objective (down from $38.00) on shares of Tandem Diabetes Care in a research note on Monday, March 3rd. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Finally, Robert W. Baird cut their target price on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.88.

Tandem Diabetes Care Stock Down 1.3 %

Shares of Tandem Diabetes Care stock traded down $0.23 during trading hours on Wednesday, hitting $16.81. 154,462 shares of the company’s stock traded hands, compared to its average volume of 1,491,218. Tandem Diabetes Care has a twelve month low of $15.75 and a twelve month high of $53.69. The company has a market cap of $1.12 billion, a PE ratio of -8.72 and a beta of 1.52. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The stock has a 50 day simple moving average of $24.00 and a 200-day simple moving average of $31.10.

Insider Buying and Selling at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos acquired 10,538 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the transaction, the chief operating officer now directly owns 10,538 shares in the company, valued at $190,948.56. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tandem Diabetes Care

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock worth $8,379,000 after buying an additional 113,355 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Tandem Diabetes Care by 163.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock worth $65,000 after acquiring an additional 1,101 shares during the period. US Bancorp DE grew its stake in shares of Tandem Diabetes Care by 15.2% in the fourth quarter. US Bancorp DE now owns 38,708 shares of the medical device company’s stock worth $1,394,000 after purchasing an additional 5,108 shares in the last quarter. KBC Group NV increased its holdings in shares of Tandem Diabetes Care by 41.5% during the fourth quarter. KBC Group NV now owns 192,479 shares of the medical device company’s stock valued at $6,933,000 after purchasing an additional 56,461 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Tandem Diabetes Care by 22.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company’s stock valued at $236,000 after purchasing an additional 1,184 shares during the period.

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.