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

Mizuho upgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also commented on TNDM. Morgan Stanley lowered shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $45.00 to $22.00 in a research note on Wednesday, March 5th. Barclays lowered their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group reduced 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. Robert W. Baird lowered their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Royal Bank of Canada dropped their target price on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.88.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock traded down $0.45 during midday trading on Wednesday, reaching $16.59. 37,420 shares of the company’s stock were exchanged, compared to its average volume of 1,490,825. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The stock’s 50-day simple moving average is $24.00 and its 200 day simple moving average is $31.10. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -8.65 and a beta of 1.52. Tandem Diabetes Care has a 52 week low of $15.75 and a 52 week high of $53.69.

Insiders Place Their Bets

In related news, COO Jean-Claude Kyrillos bought 10,538 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the acquisition, the chief operating officer now owns 10,538 shares of the company’s stock, valued at $190,948.56. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Tandem Diabetes Care by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock valued at $267,989,000 after buying an additional 77,451 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of Tandem Diabetes Care by 14.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock valued at $98,108,000 after acquiring an additional 337,026 shares during the last quarter. State Street Corp boosted its holdings in shares of Tandem Diabetes Care by 3.2% during the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock valued at $112,630,000 after acquiring an additional 83,172 shares in the last quarter. GW&K Investment Management LLC grew its position in Tandem Diabetes Care by 18.0% during the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock worth $76,488,000 after acquiring an additional 323,674 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock worth $59,830,000 after purchasing an additional 1,086,337 shares in the last quarter.

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.