Morgan Stanley Downgrades Tandem Diabetes Care (NASDAQ:TNDM) to Equal Weight

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $22.00 price objective on the medical device company’s stock, down from their prior price objective of $45.00. Morgan Stanley’s price target would suggest a potential upside of 17.52% from the company’s previous close.

Several other equities research analysts also recently commented on TNDM. Royal Bank of Canada cut their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Citigroup cut shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $24.00 in a research note on Tuesday. 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, February 26th. The Goldman Sachs Group dropped their target price on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $22.00 price target (down previously from $38.00) on shares of Tandem Diabetes Care in a report on Monday. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Tandem Diabetes Care currently has an average rating of “Moderate Buy” and a consensus target price of $45.38.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM opened at $18.72 on Wednesday. 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 stock has a 50 day moving average price of $33.55 and a 200 day moving average price of $35.75. The stock has a market capitalization of $1.24 billion, a PE ratio of -9.70 and a beta of 1.32. Tandem Diabetes Care has a 52 week low of $18.27 and a 52 week high of $53.69.

Institutional Trading of Tandem Diabetes Care

Institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Tandem Diabetes Care during the third quarter worth $28,000. Assetmark Inc. bought a new position in Tandem Diabetes Care during the third quarter worth about $29,000. AlphaQuest LLC raised 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 worth $34,000 after purchasing an additional 541 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after purchasing an additional 748 shares during the period. Finally, McIlrath & Eck LLC bought a new stake in Tandem Diabetes Care in 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.