Tandem Diabetes Care (NASDAQ:TNDM) Price Target Cut to $24.00 by Analysts at The Goldman Sachs Group

Tandem Diabetes Care (NASDAQ:TNDM) had its price target decreased by The Goldman Sachs Group from $42.00 to $24.00 in a research report sent to investors on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the medical device company’s stock.

Several other research analysts have also recently issued reports on TNDM. Barclays reduced their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Canaccord Genuity Group restated a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Robert W. Baird lowered their price target on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada decreased their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $35.00 to $25.00 in a report on Friday, February 28th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.38.

Tandem Diabetes Care Trading Down 1.9 %

NASDAQ:TNDM opened at $19.11 on Monday. Tandem Diabetes Care has a 12 month low of $18.77 and a 12 month high of $53.69. The firm has a fifty day simple moving average of $33.92 and a 200-day simple moving average of $35.86. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $1.27 billion, a P/E ratio of -9.90 and a beta of 1.32.

Institutional Investors Weigh In On Tandem Diabetes Care

Several large investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $28,000. Assetmark Inc. acquired a new stake in Tandem Diabetes Care during the 3rd quarter worth $29,000. AlphaQuest LLC lifted its stake 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 acquiring an additional 541 shares during the period. Jones Financial Companies Lllp lifted 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 worth $41,000 after acquiring an additional 748 shares during the period. Finally, McIlrath & Eck LLC acquired a new stake in shares of Tandem Diabetes Care in the 3rd quarter worth $52,000.

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.