Tandem Diabetes Care (NASDAQ:TNDM) Reaches New 52-Week Low on Analyst Downgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM)’s share price reached a new 52-week low during mid-day trading on Thursday after Robert W. Baird lowered their price target on the stock from $37.00 to $33.00. Robert W. Baird currently has a neutral rating on the stock. Tandem Diabetes Care traded as low as $25.50 and last traded at $23.74, with a volume of 96160 shares changing hands. The stock had previously closed at $33.59.

Several other equities analysts have also recently commented on TNDM. Barclays raised their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday. Citigroup cut their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a research report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective on the stock. Finally, Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.00.

Institutional Trading of Tandem Diabetes Care

A number of institutional investors have recently added to or reduced their stakes in TNDM. Hood River Capital Management LLC acquired a new stake in shares of Tandem Diabetes Care in the 4th quarter valued at $46,035,000. Jacobs Levy Equity Management Inc. raised its holdings in Tandem Diabetes Care by 189.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock valued at $59,830,000 after buying an additional 1,086,337 shares in the last quarter. Brown Advisory Inc. acquired a new stake in shares of Tandem Diabetes Care in the fourth quarter worth about $32,889,000. Park West Asset Management LLC boosted its stake in shares of Tandem Diabetes Care by 49.5% during the 4th quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company’s stock worth $57,632,000 after acquiring an additional 530,000 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in shares of Tandem Diabetes Care by 235.7% during the 4th quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock valued at $26,875,000 after acquiring an additional 523,843 shares during the last quarter.

Tandem Diabetes Care Price Performance

The stock has a 50 day moving average of $35.44 and a two-hundred day moving average of $36.64. 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 firm has a market capitalization of $1.56 billion, a P/E ratio of -12.28 and a beta of 1.32.

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.