Tandem Diabetes Care (NASDAQ:TNDM) Sets New 52-Week Low After Analyst Downgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s share price hit a new 52-week low during trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $42.00 to $24.00. The Goldman Sachs Group 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 trading hands. The stock had previously closed at $33.59.

A number of other research firms have also recently commented on TNDM. Wells Fargo & Company restated an "equal weight" rating and issued a $22.00 target price (down previously from $38.00) on shares of Tandem Diabetes Care in a research note on Monday. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $35.00 to $25.00 in a report on Friday. Citigroup reduced their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley raised shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price target for the company in a research report on Monday, December 2nd. Finally, Royal Bank of Canada cut their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.44.

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Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of 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 worth $267,989,000 after acquiring an additional 77,451 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Tandem Diabetes Care by 14.1% during 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 buying an additional 337,026 shares during the period. State Street Corp boosted its stake in shares of Tandem Diabetes Care by 3.2% in the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company's stock worth $112,630,000 after buying an additional 83,172 shares during the last quarter. GW&K Investment Management LLC grew its holdings in shares of Tandem Diabetes Care by 18.0% in the fourth 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 period. Finally, Bellevue Group AG lifted its holdings in Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company's stock valued at $78,496,000 after acquiring an additional 307,624 shares during the period.

Tandem Diabetes Care Stock Down 6.1 %

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 has a market cap of $1.38 billion, a PE ratio of -10.77 and a beta of 1.32. The company's 50-day moving average price is $34.95 and its 200 day moving average price is $36.32.

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.