Tandem Diabetes Care (NASDAQ:TNDM) Downgraded by StockNews.com to Sell

Tandem Diabetes Care (NASDAQ:TNDMGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

TNDM has been the subject of several other research reports. TheStreet downgraded shares of Tandem Diabetes Care from a “c-” rating to a “d+” rating in a report on Monday, June 13th. Bank of America initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, March 2nd. They set a “neutral” rating and a $130.00 price objective for the company. Piper Sandler decreased their price objective on shares of Tandem Diabetes Care from $170.00 to $120.00 in a report on Thursday, May 5th. Citigroup reduced their target price on shares of Tandem Diabetes Care from $155.00 to $130.00 in a research note on Tuesday, May 17th. Finally, SVB Leerink reiterated a “market perform” rating on shares of Tandem Diabetes Care in a research note on Monday, April 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

TNDM stock opened at $58.73 on Wednesday. The company has a 50 day simple moving average of $76.70 and a 200 day simple moving average of $106.86. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 734.22 and a beta of 0.69. Tandem Diabetes Care has a 1 year low of $52.69 and a 1 year high of $155.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.21 and a quick ratio of 5.60.

Tandem Diabetes Care (NASDAQ:TNDMGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The medical device company reported ($0.23) earnings per share for the quarter. The firm had revenue of $175.91 million for the quarter, compared to analyst estimates of $168.21 million. Tandem Diabetes Care had a return on equity of 1.64% and a net margin of 0.80%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) earnings per share. On average, equities research analysts anticipate that Tandem Diabetes Care will post 0.35 EPS for the current fiscal year.

In related news, COO David B. Berger sold 10,097 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $65.02, for a total value of $656,506.94. Following the transaction, the chief operating officer now owns 2,457 shares in the company, valued at approximately $159,754.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John F. Sheridan purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average price of $69.90 per share, for a total transaction of $174,750.00. Following the purchase, the chief executive officer now owns 10,058 shares in the company, valued at $703,054.20. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 5,000 shares of company stock worth $361,270 and have sold 22,607 shares worth $1,829,208. 2.20% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in TNDM. Moors & Cabot Inc. bought a new position in Tandem Diabetes Care in the 3rd quarter worth about $25,000. Exane Derivatives bought a new position in Tandem Diabetes Care during the 1st quarter valued at about $33,000. Byrne Asset Management LLC bought a new position in Tandem Diabetes Care during the 4th quarter valued at about $34,000. CI Investments Inc. lifted its stake in Tandem Diabetes Care by 10,566.7% during the 1st quarter. CI Investments Inc. now owns 320 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 317 shares during the period. Finally, Sandy Cove Advisors LLC purchased a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at about $46,000. Institutional investors own 94.62% of the company’s stock.

Tandem Diabetes Care Company Profile (Get Rating)

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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