Zacks Investment Research downgraded shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) from a buy rating to a hold rating in a research note published on Wednesday.

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. “

Other equities research analysts have also issued reports about the stock. B. Riley reiterated a buy rating and set a $5.00 target price on shares of Tandem Diabetes Care in a research note on Saturday, March 11th. Northcoast Research reiterated a buy rating on shares of Tandem Diabetes Care in a research note on Thursday, March 9th. Finally, Wedbush reiterated a positive rating on shares of Tandem Diabetes Care in a research note on Tuesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $6.71.

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Shares of Tandem Diabetes Care (NASDAQ:TNDM) opened at 1.825 on Wednesday. The company has a 50 day moving average price of $2.31 and a 200-day moving average price of $3.89. The stock’s market cap is $57.19 million. Tandem Diabetes Care has a 12 month low of $1.60 and a 12 month high of $11.30.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, March 8th. The medical device company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.17. The business earned $24.80 million during the quarter, compared to analyst estimates of $22.75 million. Tandem Diabetes Care had a negative net margin of 95.57% and a negative return on equity of 220.14%. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) EPS. On average, equities research analysts predict that Tandem Diabetes Care will post ($1.88) earnings per share for the current year.

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Several large investors have recently modified their holdings of TNDM. First Republic Investment Management Inc. increased its stake in shares of Tandem Diabetes Care by 206.4% in the fourth quarter. First Republic Investment Management Inc. now owns 58,838 shares of the medical device company’s stock worth $126,000 after buying an additional 39,638 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Tandem Diabetes Care during the fourth quarter worth about $116,000. Keybank National Association OH increased its stake in shares of Tandem Diabetes Care by 99.8% in the fourth quarter. Keybank National Association OH now owns 69,537 shares of the medical device company’s stock worth $150,000 after buying an additional 34,726 shares during the last quarter. State Street Corp increased its stake in shares of Tandem Diabetes Care by 2.5% in the fourth quarter. State Street Corp now owns 232,147 shares of the medical device company’s stock worth $499,000 after buying an additional 5,645 shares during the last quarter. Finally, Wrapmanager Inc. increased its stake in shares of Tandem Diabetes Care by 138.3% in the fourth quarter. Wrapmanager Inc. now owns 60,539 shares of the medical device company’s stock worth $130,000 after buying an additional 35,135 shares during the last quarter. 56.79% of the stock is owned by hedge funds and other institutional investors.

Tandem Diabetes Care Company Profile

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).

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