Tandem Diabetes Care (NASDAQ:TNDM) Price Target Cut to $20.00 by Analysts at Mizuho

Tandem Diabetes Care (NASDAQ:TNDM) had its price objective cut by Mizuho from $24.00 to $20.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the medical device company’s stock.

Several other analysts have also recently issued reports on the stock. Benchmark assumed coverage on shares of Tandem Diabetes Care in a research note on Monday, May 11th. They set a “hold” rating for the company. The Goldman Sachs Group set a $21.00 price objective on shares of Tandem Diabetes Care in a report on Wednesday, May 27th. Barclays set a $55.00 price target on Tandem Diabetes Care and gave the stock an “overweight” rating in a research report on Monday, May 11th. Zacks Research cut shares of Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of Tandem Diabetes Care in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.93.

Tandem Diabetes Care Trading Down 1.7%

TNDM stock opened at $15.28 on Wednesday. The firm has a market cap of $1.05 billion, a P/E ratio of -10.91 and a beta of 1.58. Tandem Diabetes Care has a 52-week low of $9.98 and a 52-week high of $29.65. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54. The company’s 50-day simple moving average is $15.83 and its 200-day simple moving average is $19.28.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative return on equity of 53.88% and a negative net margin of 9.20%.The company had revenue of $247.22 million for the quarter, compared to the consensus estimate of $240.41 million. During the same quarter in the prior year, the business posted ($0.66) earnings per share. Tandem Diabetes Care’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Tandem Diabetes Care will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently bought and sold shares of TNDM. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Tandem Diabetes Care in the second quarter valued at $207,000. 180 Wealth Advisors LLC raised its stake in Tandem Diabetes Care by 58.2% during the second quarter. 180 Wealth Advisors LLC now owns 24,934 shares of the medical device company’s stock worth $376,000 after purchasing an additional 9,171 shares during the period. Defilade Capital Management L.P. purchased a new stake in Tandem Diabetes Care during the first quarter valued at about $14,606,000. California State Teachers Retirement System increased its position in Tandem Diabetes Care by 30.8% during the 1st quarter. California State Teachers Retirement System now owns 84,255 shares of the medical device company’s stock worth $1,615,000 after purchasing an additional 19,844 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Tandem Diabetes Care by 123.5% in the first quarter. Quantinno Capital Management LP now owns 653,870 shares of the medical device company’s stock worth $12,535,000 after acquiring an additional 361,361 shares in the last quarter.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.