Tandem Diabetes Care (NASDAQ:TNDM) Receives “Equal Weight” Rating from Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a research note published on Monday, Marketbeat.com reports. They currently have a $22.00 price target on the medical device company’s stock, down from their prior price target of $38.00.

A number of other analysts have also recently weighed in on TNDM. Canaccord Genuity Group reissued a “buy” rating and set a $63.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $35.00 to $25.00 in a report on Friday. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a report on Monday, December 2nd. Citigroup dropped their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Barclays dropped 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 equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.44.

Tandem Diabetes Care Trading Down 6.1 %

TNDM opened at $20.78 on Monday. The stock has a market capitalization of $1.38 billion, a PE ratio of -10.77 and a beta of 1.32. The firm’s fifty day moving average price is $34.95 and its 200 day moving average price is $36.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care has a 12-month low of $20.36 and a 12-month high of $53.69.

Hedge Funds Weigh In On Tandem Diabetes Care

Several large investors have recently made changes to their positions in the business. Connective Capital Management LLC bought a new position in shares of Tandem Diabetes Care during the 4th quarter valued at about $611,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tandem Diabetes Care by 20.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,739 shares of the medical device company’s stock valued at $6,402,000 after buying an additional 30,133 shares in the last quarter. Two Sigma Investments LP lifted its stake in Tandem Diabetes Care by 4.4% during the fourth quarter. Two Sigma Investments LP now owns 861,188 shares of the medical device company’s stock valued at $31,020,000 after buying an additional 36,475 shares in the last quarter. State of Wyoming lifted its stake in Tandem Diabetes Care by 95.9% during the fourth quarter. State of Wyoming now owns 2,996 shares of the medical device company’s stock valued at $108,000 after buying an additional 1,467 shares in the last quarter. Finally, Shell Asset Management Co. lifted its stake in Tandem Diabetes Care by 16.9% during the fourth quarter. Shell Asset Management Co. now owns 26,281 shares of the medical device company’s stock valued at $947,000 after buying an additional 3,803 shares in the last quarter.

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.