Tandem Diabetes Care (NASDAQ:TNDM) Downgraded by Zacks Investment Research to Sell


Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports. They presently have a $111.00 price target on the medical device company’s stock. Zacks Investment Research’s price target would indicate a potential upside of 9.22% from the company’s current price.

According to Zacks, “Tandem Diabetes delivered better-than-expected revenues for the fourth quarter of 2021. The top line registered year-over-year growth, driven by robust pump shipments and growth in the company’s installed base. The continued adoption of the The company’s t:slim X2 insulin pumps looks encouraging. The expanded international launch of Control IQ technology appears promising as well. The increase in the gross margin and an upbeat sales guidance for 2022 instill investor confidence. Tandem Diabetes has outperformed its industry for the past year . However, the company’s earnings missed the Zacks Consensus Estimate in the fourth quarter. The contraction of its adjusted operating margin is also discouraging. The company continues to face pandemic-led staffing challenges and global supply-chain headwinds, raising apprehension.”

Several other equities analysts also recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Tandem Diabetes Care from $160.00 to $166.00 and gave the company an “overweight” rating in a research note on Wednesday, February 23rd. Bank of America initiated coverage on shares of Tandem Diabetes Care in a research note on Wednesday, March 2nd. They set a “neutral” rating and a $130.00 target price for the company. Citigroup cut their price target on shares of Tandem Diabetes Care from $163.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. SVB Leerink reiterated a “market perform” rating on shares of Tandem Diabetes Care in a report on Monday, April 18th. Finally, StockNews.com assumed coverage on shares of Tandem Diabetes Care in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have iss ued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $141.18.

Shares of NASDAQ TNDM traded down $4.19 during midday trading on Tuesday, reaching $101.63. The company’s stock had a trading volume of 2,059 shares, compared to its average volume of 577,555. Tandem Diabetes Care has a 12-month low of $76.19 and a 12- month high of $155.86. The firm has a 50-day moving average price of $112.40 and a 200-day moving average price of $124.96. The stock has a market capitalization of $6.50 billion, a P/E ratio of 441.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 6.15 and a quick ratio of 5.63.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The medical device company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). Tandem Diabetes Care had a return on equity of 4.58% and a net margin of 2.21%. The company had revenue of $210.00 million during the quarter, compared to the consensus estimate of $198.83 million. During the same period last year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities analysts predict that Tandem Diabetes Care will post 0.56 EPS for the current year.

In other news, Director Rebecca B. Robertson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $117.97, for a total value of $176,955.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David B. Berger sold 5,000 shares of Tandem Diabetes Care stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $108.37, for a total transaction of $541,850.00. The disclosure for this sale can be found here. Insiders sold 8,905 shares of company stock valued at $992,325 over the last quarter. Company insiders own 4.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its holdings in Tandem Diabetes Care by 21.5% in the 1st quarter. CWM LLC now owns 553 shares of the medical device company’s stock worth $64,000 after acquiring an additional 98 shares during the period. Securian Asset Management Inc. increased its position in Tandem Diabetes Care by 1.8% in the fourth quarter. Securian Asset Management Inc. now owns 5,752 shares of the medical device company’s stock worth $866,000 after buying an additional 100 shares during the period. Candriam Luxembourg SCA increased its position in Tandem Diabetes Care by 0.3% in the fourth quarter. Candriam Luxembourg SCA now owns 35,688 shares of the medical device company’s stock worth $5,372,000 after buying an additional 101 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Tandem Diabetes Care by 1.2% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,532 shares of the medical device company’s stock worth $1,585,000 after buying an additional 120 shares during the period. Finally, Comerica Bank increased its holdings in shares of Tandem Diabetes Care by 0.4% during the fourth quarter. Comerica Bank now owns 28,682 shares of the medical device company’s stock valued at $3,358,000 after purchasing an additional 125 shares during the period. 97.11% of the stock is owned by hedge funds and other institutional investors.

About Tandem Diabetes Care (Get Rating)

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company’s flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)



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