Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Lowered by Sanford C. Bernstein

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

Several other equities research analysts also recently weighed in on the stock. Citigroup dropped their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Canaccord Genuity Group restated a “buy” rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday. Robert W. Baird reduced their target price on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays boosted their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research note on Monday, December 2nd. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.31.

Tandem Diabetes Care Stock Down 35.2 %

TNDM stock opened at $21.75 on Friday. The company has a market capitalization of $1.43 billion, a P/E 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. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a twelve month low of $21.43 and a twelve month high of $53.69.

Institutional Investors Weigh In On Tandem Diabetes Care

A number of institutional investors and hedge funds have recently bought and sold shares of TNDM. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care in the 3rd quarter worth about $28,000. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $29,000. AlphaQuest LLC grew its position in Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after acquiring an additional 541 shares in the last quarter. Jones Financial Companies Lllp increased its position in Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after buying an additional 748 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter valued at about $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.