Tandem Diabetes Care (NASDAQ:TNDM) Cut to Market Perform at Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of Tandem Diabetes Care (NASDAQ:TNDM - Free Report) from an outperform rating to a market perform rating in a report released on Friday morning, MarketBeat Ratings reports. The brokerage currently has $25.00 price objective on the medical device company's stock, down from their prior price objective of $35.00.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley upgraded shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 target price for the company in a research note on Monday, December 2nd. Royal Bank of Canada decreased their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Robert W. Baird lowered their target price on Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Barclays increased their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $46.81.

Remove Ads

Tandem Diabetes Care Stock Performance

TNDM stock traded down $1.29 on Friday, hitting $19.49. The company's stock had a trading volume of 4,245,478 shares, compared to its average volume of 1,486,412. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -10.10 and a beta of 1.32. The firm has a 50 day moving average of $34.63 and a two-hundred day moving average of $36.16. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a 1 year low of $18.77 and a 1 year high of $53.69.

Hedge Funds Weigh In On Tandem Diabetes Care

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