Tandem Diabetes Care, Inc. (TNDM) Rating Lowered to Hold at Zacks Investment Research

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Tandem Diabetes Care, Inc. is a medical device company. The Company designs, develops, and commercializes products for people with insulin-dependent diabetes. Its products include t:slim Insulin Delivery System. Tandem Diabetes Care, Inc. is headquartered in San Diego, California. “

TNDM has been the topic of several other reports. Wedbush reissued an “outperform” rating and issued a $17.00 target price (down from $50.00) on shares of Tandem Diabetes Care in a report on Tuesday, October 10th. Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 target price on shares of Tandem Diabetes Care in a report on Friday, October 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $29.31.

Shares of Tandem Diabetes Care (NASDAQ TNDM) opened at 2.3699 on Tuesday. The company’s market capitalization is $119.04 million. The firm’s 50-day moving average is $6.59 and its 200 day moving average is $7.73. Tandem Diabetes Care has a 52 week low of $2.33 and a 52 week high of $70.00.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Thursday, July 27th. The medical device company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.80) by $0.40. Tandem Diabetes Care had a negative net margin of 110.70% and a negative return on equity of 1,177.11%. The firm had revenue of $21.30 million for the quarter, compared to analyst estimates of $21.74 million. During the same period last year, the firm earned ($6.00) EPS. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, analysts anticipate that Tandem Diabetes Care will post ($17.35) earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in TNDM. Bank of America Corp DE grew its holdings in shares of Tandem Diabetes Care by 88.6% during the 1st quarter. Bank of America Corp DE now owns 861,026 shares of the medical device company’s stock valued at $1,032,000 after purchasing an additional 404,452 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Tandem Diabetes Care during the 1st quarter valued at approximately $360,000. Keybank National Association OH grew its holdings in shares of Tandem Diabetes Care by 32.7% during the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after purchasing an additional 72,177 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tandem Diabetes Care by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after purchasing an additional 32,991 shares during the last quarter. Finally, Iguana Healthcare Management LLC grew its holdings in shares of Tandem Diabetes Care by 33.3% during the 1st quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock valued at $120,000 after purchasing an additional 25,000 shares during the last quarter.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

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