Tandem Diabetes Care (NASDAQ:TNDM) Hits New 52-Week Low Following Analyst Downgrade

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) reached a new 52-week low during trading on Thursday after Robert W. Baird lowered their price target on the stock from $37.00 to $33.00. Robert W. Baird currently has a neutral rating on the stock. Tandem Diabetes Care traded as low as $25.50 and last traded at $23.74, with a volume of 96160 shares changing hands. The stock had previously closed at $33.59.

A number of other research analysts have also weighed in on TNDM. Canaccord Genuity Group reissued a “buy” rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday. Citigroup decreased their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a report on Monday, December 2nd. Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a research report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target for the company. Finally, Barclays increased their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Institutional Trading of Tandem Diabetes Care

Large investors have recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care in the third quarter valued at about $28,000. Assetmark Inc. acquired a new position in Tandem Diabetes Care during the 3rd quarter worth $29,000. AlphaQuest LLC increased its position in shares of Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after purchasing an additional 541 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after purchasing an additional 748 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new position in shares of Tandem Diabetes Care during the third quarter worth about $52,000.

Tandem Diabetes Care Trading Down 29.3 %

The company has a market cap of $1.56 billion, a P/E ratio of -12.28 and a beta of 1.32. The business has a fifty day simple moving average of $35.44 and a 200 day simple moving average of $36.64. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

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.