Zacks Investment Research Downgrades Tandem Diabetes Care (NASDAQ:TNDM) to Hold

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, January 5th.

According to Zacks, “Tandem Diabetes Care, Inc. is a medical device company. The Company designs, develops, and commercializes products for people with insulin-dependent diabetes. Its products include t:slim Insulin Delivery System. Tandem Diabetes Care, Inc. is headquartered in San Diego, California. “

Other analysts have also issued reports about the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $15.00 price target on shares of Tandem Diabetes Care in a research report on Friday, October 6th. Robert W. Baird reissued a “hold” rating and issued a $3.00 price objective on shares of Tandem Diabetes Care in a research report on Sunday, November 19th. Finally, Wedbush restated an “outperform” rating and issued a $17.00 price target (down from $50.00) on shares of Tandem Diabetes Care in a research note on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $11.29.

Tandem Diabetes Care (TNDM) opened at $3.24 on Friday. The stock has a market cap of $33.90, a P/E ratio of -0.16 and a beta of 0.17. Tandem Diabetes Care has a 1-year low of $2.15 and a 1-year high of $30.00. The company has a debt-to-equity ratio of -2.70, a quick ratio of 0.88 and a current ratio of 1.90.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, October 26th. The medical device company reported ($3.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($3.74) by $0.65. The business had revenue of $27.00 million during the quarter, compared to the consensus estimate of $25.92 million. During the same period in the prior year, the firm earned ($0.97) EPS. The business’s revenue for the quarter was up 119.7% compared to the same quarter last year. equities analysts forecast that Tandem Diabetes Care will post -15.37 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in Tandem Diabetes Care by 93.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 581,245 shares of the medical device company’s stock valued at $465,000 after buying an additional 280,551 shares during the last quarter. Keybank National Association OH raised its holdings in Tandem Diabetes Care by 32.7% in the 2nd quarter. Keybank National Association OH now owns 293,206 shares of the medical device company’s stock valued at $235,000 after buying an additional 72,177 shares during the last quarter. Wedbush Securities Inc. raised its holdings in Tandem Diabetes Care by 88.6% in the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock valued at $138,000 after buying an additional 88,709 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Tandem Diabetes Care by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock worth $987,000 after purchasing an additional 32,991 shares during the last quarter.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Downgrades Tandem Diabetes Care (NASDAQ:TNDM) to Hold” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2018/01/13/tandem-diabetes-care-tndm-downgraded-by-zacks-investment-research-to-hold.html.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).

Get a free copy of the Zacks research report on Tandem Diabetes Care (TNDM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Tandem Diabetes Care (NASDAQ:TNDM)

Receive News & Ratings for Tandem Diabetes Care Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tandem Diabetes Care and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply