Tandem Diabetes Care (NASDAQ:TNDM) Lowered to "Neutral" Rating by Citigroup

Citigroup cut shares of Tandem Diabetes Care (NASDAQ:TNDM - Free Report) from a buy rating to a neutral rating in a report released on Tuesday morning, MarketBeat.com reports. The brokerage currently has $24.00 price target on the medical device company's stock, down from their previous price target of $35.00.

Other equities analysts also recently issued reports about the company. Sanford C. Bernstein downgraded Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $35.00 to $25.00 in a report on Friday, February 28th. Royal Bank of Canada reduced their price target on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group dropped their price objective on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday. Wells Fargo & Company restated an "equal weight" rating and set a $22.00 target price (down previously from $38.00) on shares of Tandem Diabetes Care in a report on Monday. Finally, Barclays lowered their price target on Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.38.

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Tandem Diabetes Care Trading Down 4.1 %

Tandem Diabetes Care stock traded down $0.76 during trading on Tuesday, reaching $17.96. The company had a trading volume of 2,019,213 shares, compared to its average volume of 1,482,724. 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 $1.19 billion, a price-to-earnings ratio of -9.31 and a beta of 1.45. Tandem Diabetes Care has a 12-month low of $17.93 and a 12-month high of $53.69. The stock's 50 day moving average price is $33.55 and its two-hundred day moving average price is $35.75.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Connective Capital Management LLC acquired a new position in Tandem Diabetes Care during the 4th quarter worth $611,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tandem Diabetes Care by 20.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,739 shares of the medical device company's stock worth $6,402,000 after purchasing an additional 30,133 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Tandem Diabetes Care by 4.4% during the fourth quarter. Two Sigma Investments LP now owns 861,188 shares of the medical device company's stock worth $31,020,000 after purchasing an additional 36,475 shares during the last quarter. State of Wyoming grew its stake in Tandem Diabetes Care by 95.9% in the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company's stock worth $108,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Shell Asset Management Co. increased its holdings in Tandem Diabetes Care by 16.9% in the fourth quarter. Shell Asset Management Co. now owns 26,281 shares of the medical device company's stock valued at $947,000 after buying an additional 3,803 shares during 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.