Zacks Investment Research Lowers Tandem Diabetes Care Inc (TNDM) to Hold

Zacks Investment Research lowered shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) from a buy rating to a hold rating in a research report released on Wednesday morning.

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. “

Several other brokerages also recently weighed in on TNDM. Wedbush restated a positive rating on shares of Tandem Diabetes Care in a research note on Tuesday, January 24th. B. Riley restated a buy rating and issued a $5.00 target price on shares of Tandem Diabetes Care in a research note on Saturday, March 11th. Finally, Northcoast Research restated a buy rating on shares of Tandem Diabetes Care in a research note on Thursday, March 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $6.71.

Shares of Tandem Diabetes Care (NASDAQ:TNDM) opened at 1.825 on Wednesday. The stock’s 50 day moving average is $2.31 and its 200-day moving average is $3.89. The company’s market cap is $57.19 million. Tandem Diabetes Care has a 12 month low of $1.60 and a 12 month high of $11.30.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, March 8th. The medical device company reported ($0.48) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.17. The company earned $24.80 million during the quarter, compared to the consensus estimate of $22.75 million. Tandem Diabetes Care had a negative net margin of 95.57% and a negative return on equity of 220.14%. Tandem Diabetes Care’s revenue was down 14.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.40) earnings per share. On average, equities analysts forecast that Tandem Diabetes Care will post ($1.88) EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. boosted its position in Tandem Diabetes Care by 206.4% in the fourth quarter. First Republic Investment Management Inc. now owns 58,838 shares of the medical device company’s stock worth $126,000 after buying an additional 39,638 shares in the last quarter. A.R.T. Advisors LLC bought a new position in Tandem Diabetes Care during the fourth quarter worth about $116,000. Keybank National Association OH boosted its position in Tandem Diabetes Care by 99.8% in the fourth quarter. Keybank National Association OH now owns 69,537 shares of the medical device company’s stock worth $150,000 after buying an additional 34,726 shares in the last quarter. State Street Corp boosted its position in Tandem Diabetes Care by 2.5% in the fourth quarter. State Street Corp now owns 232,147 shares of the medical device company’s stock worth $499,000 after buying an additional 5,645 shares in the last quarter. Finally, Wrapmanager Inc. boosted its position in Tandem Diabetes Care by 138.3% in the fourth quarter. Wrapmanager Inc. now owns 60,539 shares of the medical device company’s stock worth $130,000 after buying an additional 35,135 shares in the last quarter. 56.79% of the stock is owned by institutional investors and hedge funds.

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).

5 Day Chart for NASDAQ:TNDM

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