Citigroup Issues Pessimistic Forecast for Tandem Diabetes Care (NASDAQ:TNDM) Stock Price

Tandem Diabetes Care (NASDAQ:TNDM) had its target price dropped by research analysts at Citigroup from $24.00 to $20.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has a “neutral” rating on the medical device company’s stock. Citigroup’s target price suggests a potential upside of 24.19% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Tandem Diabetes Care in a report on Tuesday, June 23rd. They set a “hold” rating and a $15.50 price target for the company. Mizuho dropped their price objective on shares of Tandem Diabetes Care from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. William Blair began coverage on shares of Tandem Diabetes Care in a research note on Friday, August 21st. They set an “outperform” rating for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $26.00 target price (down from $30.00) on shares of Tandem Diabetes Care in a report on Friday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Tandem Diabetes Care in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $29.13.

Tandem Diabetes Care Stock Down 2.8%

TNDM traded down $0.47 during trading on Wednesday, reaching $16.10. 98,901 shares of the stock were exchanged, compared to its average volume of 2,101,625. The company has a debt-to-equity ratio of 4.62, a quick ratio of 2.65 and a current ratio of 3.18. The stock’s 50 day moving average price is $19.61 and its two-hundred day moving average price is $18.53. Tandem Diabetes Care has a twelve month low of $12.07 and a twelve month high of $29.65. The stock has a market cap of $1.12 billion, a P/E ratio of -17.29 and a beta of 1.55.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.01. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The company had revenue of $254.56 million for the quarter, compared to analyst estimates of $254.99 million. During the same period in the previous year, the business earned ($0.78) EPS. Tandem Diabetes Care’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that Tandem Diabetes Care will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Tandem Diabetes Care

Several institutional investors have recently made changes to their positions in TNDM. Leonteq Securities AG increased its holdings in Tandem Diabetes Care by 21.7% in the first quarter. Leonteq Securities AG now owns 9,501 shares of the medical device company’s stock worth $182,000 after purchasing an additional 1,695 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Tandem Diabetes Care by 9.1% during the 1st quarter. Diversified Trust Co now owns 21,332 shares of the medical device company’s stock worth $409,000 after buying an additional 1,774 shares in the last quarter. OP Asset Management Ltd bought a new position in shares of Tandem Diabetes Care during the 1st quarter worth approximately $35,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Tandem Diabetes Care during the 2nd quarter worth approximately $33,000. Finally, 180 Wealth Advisors LLC grew its position in shares of Tandem Diabetes Care by 17.3% during the 1st quarter. 180 Wealth Advisors LLC now owns 15,763 shares of the medical device company’s stock worth $302,000 after buying an additional 2,320 shares during the period.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc is a medical technology company that develops and commercializes insulin-delivery systems for people with diabetes. Headquartered in San Diego, California, the company focuses on combining wearable insulin pumps, continuous glucose monitoring connectivity and automated insulin-delivery software to help users manage their blood glucose levels.

Its product portfolio includes the t:slim X2 insulin pump, a touchscreen pump designed for integration with compatible continuous glucose monitors, and the smaller, wearable t:slim Mobi pump.