The Goldman Sachs Group Issues Pessimistic Forecast for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) had its target price cut by equities researchers at The Goldman Sachs Group from $42.00 to $24.00 in a report released on Monday,Benzinga reports. The firm presently has a "neutral" rating on the medical device company's stock. The Goldman Sachs Group's price target would suggest a potential upside of 28.21% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $22.00 price objective (down previously from $38.00) on shares of Tandem Diabetes Care in a research report on Monday. Barclays decreased their price target on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Citigroup lowered their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Finally, Morgan Stanley raised shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price objective on the stock in a report on Monday, December 2nd. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.38.

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Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock traded down $0.39 during trading on Monday, reaching $18.72. 1,713,124 shares of the stock traded hands, compared to its average volume of 1,501,239. 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 company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -9.70 and a beta of 1.32. Tandem Diabetes Care has a 52-week low of $18.34 and a 52-week high of $53.69. The business has a fifty day simple moving average of $33.92 and a two-hundred day simple moving average of $35.86.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently modified their holdings of the stock. Bellevue Group AG increased its stake in Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company's stock valued at $78,496,000 after purchasing an additional 307,624 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company's stock valued at $8,379,000 after acquiring an additional 113,355 shares during the period. MetLife Investment Management LLC raised its stake in Tandem Diabetes Care by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company's stock worth $1,587,000 after acquiring an additional 21,086 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Tandem Diabetes Care by 368.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company's stock worth $1,108,000 after acquiring an additional 20,549 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Tandem Diabetes Care by 32.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company's stock worth $11,540,000 after purchasing an additional 66,687 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.