Tandem Diabetes Care (NASDAQ:TNDM) Rating Lowered to Market Perform at Sanford C. Bernstein

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. They currently have a $25.00 price objective on the medical device company’s stock, down from their prior price objective of $35.00. Sanford C. Bernstein’s price target points to a potential upside of 14.94% from the company’s previous close.

A number of other research analysts have also weighed in on TNDM. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Monday, December 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $63.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday. Citigroup lowered their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada cut their price objective 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. Finally, Barclays boosted their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.31.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $21.75 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market cap of $1.43 billion, a PE ratio of -11.27 and a beta of 1.32. The firm has a 50 day simple moving average of $35.22 and a 200-day simple moving average of $36.52. Tandem Diabetes Care has a 1-year low of $21.43 and a 1-year high of $53.69.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds have recently modified their holdings of TNDM. Raymond James & Associates grew its position in Tandem Diabetes Care by 8.0% in the third quarter. Raymond James & Associates now owns 104,418 shares of the medical device company’s stock valued at $4,428,000 after acquiring an additional 7,747 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Tandem Diabetes Care in the third quarter valued at $220,000. International Assets Investment Management LLC grew its holdings in 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 valued at $297,000 after purchasing an additional 6,833 shares in the last quarter. abrdn plc purchased a new stake in Tandem Diabetes Care during the 3rd quarter worth $6,126,000. Finally, Stephens Investment Management Group LLC lifted its holdings in 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 worth $54,051,000 after buying an additional 138,263 shares in the last quarter.

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.