Tandem Diabetes Care (NASDAQ:TNDM) Trading Down 5.5% Following Analyst Downgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Get Free Report)'s stock price fell 5.5% on Monday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. Morgan Stanley now has a $22.00 price target on the stock, down from their previous price target of $45.00. Tandem Diabetes Care traded as low as $20.91 and last traded at $20.93. 613,930 shares changed hands during trading, a decline of 54% from the average session volume of 1,347,559 shares. The stock had previously closed at $22.14.

A number of other research firms have also recently commented on TNDM. 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. 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 stock from $35.00 to $25.00 in a report on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday. Robert W. Baird dropped their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $63.00 price target on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $45.38.

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Institutional Trading of Tandem Diabetes Care

Several institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter worth approximately $28,000. Assetmark Inc. bought a new position in Tandem Diabetes Care during the third quarter worth $29,000. AlphaQuest LLC lifted its holdings in Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after buying an additional 541 shares during the period. Jones Financial Companies Lllp lifted its holdings in Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock valued at $41,000 after buying an additional 748 shares during the period. Finally, McIlrath & Eck LLC bought a new stake in Tandem Diabetes Care during the third quarter valued at $52,000.

Tandem Diabetes Care Stock Performance

The stock has a fifty day simple moving average of $33.92 and a two-hundred day simple moving average of $35.86. 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 capitalization of $1.24 billion, a price-to-earnings ratio of -9.70 and a beta of 1.32.

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.