Sanford C. Bernstein Downgrades Tandem Diabetes Care (NASDAQ:TNDM) to Market Perform

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by research analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research note issued on Friday, Marketbeat.com reports. They currently have a $25.00 price target on the medical device company’s stock, down from their prior price target of $35.00. Sanford C. Bernstein’s target price indicates a potential upside of 12.92% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays raised their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Citigroup lowered their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a report on Monday, December 2nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $63.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.88.

Tandem Diabetes Care Trading Up 1.8 %

Shares of TNDM stock opened at $22.14 on Friday. Tandem Diabetes Care has a 1-year low of $20.36 and a 1-year high of $53.69. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -11.47 and a beta of 1.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The stock has a 50 day simple moving average of $34.95 and a 200-day simple moving average of $36.40.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Tandem Diabetes Care during the third quarter worth $28,000. Assetmark Inc. acquired a new position in Tandem Diabetes Care in the third quarter valued at $29,000. AlphaQuest LLC increased its stake in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after buying an additional 541 shares during the period. Jones Financial Companies Lllp raised its position in Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after acquiring an additional 748 shares in the last quarter. Finally, McIlrath & Eck LLC purchased a new position in Tandem Diabetes Care in the 3rd quarter valued at approximately $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.