Tandem Diabetes Care (NASDAQ:TNDM) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Tandem Diabetes Care (NASDAQ:TNDM) from a hold rating to a sell rating in a research report sent to investors on Sunday morning.

A number of other equities research analysts have also commented on the stock. Lake Street Capital lowered shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $12.00 in a research note on Monday, August 11th. Royal Bank Of Canada reduced their price objective on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 29th. UBS Group cut their target price on shares of Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Finally, Barclays cut their target price on shares of Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus price target of $21.19.

Tandem Diabetes Care Trading Up 1.1%

NASDAQ:TNDM opened at $15.10 on Friday. The firm’s fifty day moving average is $13.22 and its 200-day moving average is $16.33. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. Tandem Diabetes Care has a 52 week low of $9.98 and a 52 week high of $38.28. The firm has a market cap of $1.02 billion, a P/E ratio of -4.89 and a beta of 1.48.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). Tandem Diabetes Care had a negative net margin of 20.51% and a negative return on equity of 65.40%. The firm had revenue of $240.68 million during the quarter, compared to the consensus estimate of $238.39 million. During the same period in the prior year, the company posted ($0.47) earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts expect that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, CEO John F. Sheridan purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $10.23 per share, with a total value of $102,300.00. Following the transaction, the chief executive officer owned 106,327 shares in the company, valued at $1,087,725.21. The trade was a 10.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Leigh Vosseller acquired 13,720 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $10.89 per share, with a total value of $149,410.80. Following the completion of the acquisition, the chief financial officer directly owned 25,580 shares in the company, valued at approximately $278,566.20. This represents a 115.68% increase in their position. The SEC filing for this purchase provides additional information. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TNDM. Janney Montgomery Scott LLC raised its position in Tandem Diabetes Care by 27.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company’s stock valued at $737,000 after buying an additional 8,210 shares during the last quarter. KBC Group NV raised its holdings in shares of Tandem Diabetes Care by 0.7% in the first quarter. KBC Group NV now owns 193,808 shares of the medical device company’s stock valued at $3,713,000 after purchasing an additional 1,329 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Tandem Diabetes Care by 17.8% in the first quarter. Teacher Retirement System of Texas now owns 32,465 shares of the medical device company’s stock valued at $622,000 after purchasing an additional 4,895 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Tandem Diabetes Care by 2.9% in the first quarter. Principal Financial Group Inc. now owns 399,450 shares of the medical device company’s stock valued at $7,653,000 after purchasing an additional 11,103 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Tandem Diabetes Care by 25.4% in the first quarter. Envestnet Asset Management Inc. now owns 318,530 shares of the medical device company’s stock valued at $6,103,000 after purchasing an additional 64,467 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.