Tandem Diabetes Care (NASDAQ:TNDM) Earns "Equal Weight" Rating from Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of Tandem Diabetes Care (NASDAQ:TNDM - Free Report) in a research note released on Monday, Marketbeat reports. The brokerage currently has a $22.00 price target on the medical device company's stock, down from their prior price target of $38.00.

TNDM has been the subject of several other reports. 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. Morgan Stanley raised 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. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $63.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Finally, Citigroup lowered their target price on Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, December 11th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.38.

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Tandem Diabetes Care Trading Down 2.0 %

Shares of NASDAQ TNDM traded down $0.39 during midday trading on Monday, reaching $18.72. 1,713,124 shares of the stock were exchanged, compared to its average volume of 1,501,239. Tandem Diabetes Care has a 12 month low of $18.34 and a 12 month high of $53.69. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -9.70 and a beta of 1.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The business has a 50-day simple moving average of $33.92 and a two-hundred day simple moving average of $35.86.

Institutional Trading of Tandem Diabetes Care

Institutional investors and hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC bought a new stake in Tandem Diabetes Care in the 3rd quarter valued at $220,000. International Assets Investment Management LLC lifted its stake in shares of Tandem Diabetes Care by 4,141.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,998 shares of the medical device company's stock worth $297,000 after buying an additional 6,833 shares during the last quarter. Hanseatic Management Services Inc. boosted its holdings in shares of Tandem Diabetes Care by 5.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 13,941 shares of the medical device company's stock worth $591,000 after buying an additional 710 shares during the period. JB Capital LLC grew its stake in Tandem Diabetes Care by 7.2% in the 3rd quarter. JB Capital LLC now owns 33,729 shares of the medical device company's stock valued at $1,430,000 after buying an additional 2,259 shares during the last quarter. Finally, Assetmark Inc. acquired a new stake in Tandem Diabetes Care during the third quarter worth approximately $29,000.

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.