Tandem Diabetes Care (NASDAQ:TNDM) Downgraded by Sanford C. Bernstein to Market Perform

Sanford C. Bernstein lowered shares of Tandem Diabetes Care (NASDAQ:TNDM) from an outperform rating to a market perform rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. They currently have $25.00 price target on the medical device company’s stock, down from their previous price target of $35.00.

A number of other equities research analysts also recently commented on the company. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research report on Monday, December 2nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday. Citigroup cut their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Robert W. Baird cut their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Barclays boosted their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and an average target price of $51.88.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $22.14 on Friday. Tandem Diabetes Care has a 52 week low of $20.36 and a 52 week high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $1.45 billion, a P/E ratio of -11.47 and a beta of 1.32. The stock’s fifty day moving average is $35.22 and its two-hundred day moving average is $36.52.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TNDM. Raymond James & Associates boosted its position in shares of Tandem Diabetes Care by 8.0% during the 3rd quarter. Raymond James & Associates now owns 104,418 shares of the medical device company’s stock worth $4,428,000 after acquiring an additional 7,747 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter worth about $220,000. International Assets Investment Management LLC boosted its position in shares of Tandem Diabetes Care by 4,141.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,998 shares of the medical device company’s stock worth $297,000 after acquiring an additional 6,833 shares in the last quarter. abrdn plc acquired a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at about $6,126,000. Finally, Stephens Investment Management Group LLC boosted its position in shares of Tandem Diabetes Care by 12.2% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock valued at $54,051,000 after purchasing an additional 138,263 shares during the period.

About Tandem Diabetes Care

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.