Tandem Diabetes Care (NASDAQ:TNDM) Price Target Lowered to $24.00 at The Goldman Sachs Group

Tandem Diabetes Care (NASDAQ:TNDM) had its price target lowered by The Goldman Sachs Group from $42.00 to $24.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the medical device company’s stock.

A number of other brokerages have also weighed in on TNDM. Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $35.00 to $25.00 in a research report on Friday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $63.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird decreased their price target on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Barclays cut their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and an average price target of $48.44.

Tandem Diabetes Care Price Performance

TNDM opened at $20.78 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market cap of $1.38 billion, a P/E ratio of -10.77 and a beta of 1.32. Tandem Diabetes Care has a fifty-two week low of $20.36 and a fifty-two week high of $53.69. The firm has a 50-day moving average of $34.95 and a 200 day moving average of $36.32.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Tandem Diabetes Care by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after purchasing an additional 77,451 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of Tandem Diabetes Care by 14.1% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock valued at $98,108,000 after purchasing an additional 337,026 shares during the period. State Street Corp grew its stake in shares of Tandem Diabetes Care by 3.2% during the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock valued at $112,630,000 after purchasing an additional 83,172 shares during the period. GW&K Investment Management LLC grew its stake in shares of Tandem Diabetes Care by 18.0% during the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock valued at $76,488,000 after acquiring an additional 323,674 shares during the period. Finally, Bellevue Group AG grew its stake in shares of Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after acquiring an additional 307,624 shares during the period.

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.