Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Lowered by Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from an outperform rating to a market perform rating in a research report report published on Friday morning, MarketBeat.com reports. The brokerage currently has $25.00 target price on the medical device company’s stock, down from their prior target price of $35.00.

Several other research firms also recently commented on TNDM. Royal Bank of Canada reduced their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday. Citigroup reduced their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Robert W. Baird reduced their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays upped their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.88.

Tandem Diabetes Care Stock Up 1.8 %

Shares of NASDAQ TNDM opened at $22.14 on Friday. The stock has a market cap of $1.45 billion, a PE ratio of -11.47 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a 52-week low of $20.36 and a 52-week high of $53.69. The business has a 50-day moving average price of $35.22 and a 200 day moving average price of $36.52.

Hedge Funds Weigh In On Tandem Diabetes Care

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Tandem Diabetes Care by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock valued at $267,989,000 after purchasing an additional 77,451 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its stake in Tandem Diabetes Care by 14.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock valued at $98,108,000 after purchasing an additional 337,026 shares in the last quarter. State Street Corp increased its stake in Tandem Diabetes Care by 3.2% in the 3rd quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock valued at $112,630,000 after purchasing an additional 83,172 shares in the last quarter. GW&K Investment Management LLC increased its stake in Tandem Diabetes Care by 18.0% in the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock valued at $76,488,000 after purchasing an additional 323,674 shares in the last quarter. Finally, Bellevue Group AG grew its holdings in Tandem Diabetes Care by 19.9% during the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after buying an additional 307,624 shares during 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.