Wall Street Zen Downgrades Tandem Diabetes Care (NASDAQ:TNDM) to Sell

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

TNDM has been the subject of a number of other reports. Piper Sandler downgraded shares of Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $30.00 to $14.00 in a research note on Thursday, August 7th. Oppenheimer began coverage on shares of Tandem Diabetes Care in a research note on Monday, September 8th. They issued an “outperform” rating and a $22.00 target price for the company. Canaccord Genuity Group reissued a “buy” rating and set a $24.00 price target on shares of Tandem Diabetes Care in a research note on Monday, September 29th. Citigroup reissued a “neutral” rating and set a $15.00 price target (up from $11.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus target price of $21.19.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $14.94 on Friday. Tandem Diabetes Care has a 12 month low of $9.98 and a 12 month high of $38.28. The firm has a market cap of $1.01 billion, a PE ratio of -4.83 and a beta of 1.48. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.32. The company’s 50-day moving average price is $13.14 and its two-hundred day moving average price is $16.34.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%.The company had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. During the same period in the prior year, the firm posted ($0.47) earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that Tandem Diabetes Care will post -1.68 EPS for the current fiscal year.

Insider Activity at Tandem Diabetes Care

In other news, CEO John F. Sheridan bought 10,000 shares of the stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $10.23 per share, with a total value of $102,300.00. Following the completion of the purchase, the chief executive officer owned 106,327 shares of the company’s stock, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Leigh Vosseller purchased 13,720 shares of Tandem Diabetes Care stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $10.89 per share, with a total value of $149,410.80. Following the acquisition, the chief financial officer directly owned 25,580 shares of the company’s stock, valued at approximately $278,566.20. This trade represents a 115.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assetmark Inc. boosted its holdings in shares of Tandem Diabetes Care by 42.9% in the first quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after buying an additional 525 shares during the period. CWM LLC boosted its holdings in Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock worth $52,000 after purchasing an additional 2,025 shares during the last quarter. CoreCap Advisors LLC raised its position in Tandem Diabetes Care by 270.3% during the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock worth $58,000 after acquiring an additional 3,468 shares in the last quarter. Brooklyn Investment Group raised its position in Tandem Diabetes Care by 417.8% during the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock worth $65,000 after acquiring an additional 2,741 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Tandem Diabetes Care by 186.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after acquiring an additional 2,717 shares in the last quarter.

Tandem Diabetes Care Company Profile

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.