Tandem Diabetes Care (NASDAQ:TNDM) Stock Rating Lowered by Lake Street Capital

Lake Street Capital downgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from a buy rating to a hold rating in a research report released on Monday morning, MarketBeat reports. Lake Street Capital currently has $12.00 price objective on the medical device company’s stock, down from their previous price objective of $75.00.

TNDM has been the subject of several other research reports. Stifel Nicolaus dropped their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Truist Financial assumed coverage on Tandem Diabetes Care in a research report on Monday, June 16th. They issued a “hold” rating and a $24.00 target price for the company. Piper Sandler lowered Tandem Diabetes Care from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $14.00 in a research report on Thursday, August 7th. Royal Bank Of Canada decreased their target price on Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Finally, Barclays decreased their target price on Tandem Diabetes Care from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.67.

Tandem Diabetes Care Trading Up 0.3%

NASDAQ TNDM opened at $11.13 on Monday. Tandem Diabetes Care has a fifty-two week low of $9.98 and a fifty-two week high of $47.60. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.88 and a current ratio of 2.44. The stock has a 50 day simple moving average of $16.99 and a two-hundred day simple moving average of $21.04. The stock has a market cap of $752.05 million, a P/E ratio of -3.60 and a beta of 1.46.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Wednesday, August 6th. The medical device company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.08). Tandem Diabetes Care had a negative return on equity of 65.40% and a negative net margin of 20.51%. The business had revenue of $240.68 million during the quarter, compared to analysts’ expectations of $238.39 million. During the same quarter last year, the business posted ($0.47) EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts forecast that Tandem Diabetes Care will post -1.68 earnings per share for the current year.

Insider Buying and Selling

In other Tandem Diabetes Care news, CEO John F. Sheridan bought 10,000 shares of Tandem Diabetes Care stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $10.23 per share, with a total value of $102,300.00. Following the acquisition, the chief executive officer owned 106,327 shares in the company, valued at approximately $1,087,725.21. This trade represents a 10.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Leigh Vosseller bought 13,720 shares of Tandem Diabetes Care stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $10.89 per share, with a total value of $149,410.80. Following the acquisition, the chief financial officer owned 25,580 shares in the company, valued at approximately $278,566.20. This represents a 115.68% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by company insiders.

Institutional Trading of Tandem Diabetes Care

A number of institutional investors and hedge funds have recently modified their holdings of TNDM. Sessa Capital IM L.P. purchased a new position in shares of Tandem Diabetes Care in the 1st quarter worth $85,574,000. Hood River Capital Management LLC purchased a new position in shares of Tandem Diabetes Care in the 4th quarter worth $46,035,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock worth $59,830,000 after buying an additional 1,086,337 shares during the last quarter. Brown Advisory Inc. purchased a new position in shares of Tandem Diabetes Care in the 4th quarter worth $32,889,000. Finally, GW&K Investment Management LLC boosted its stake in shares of Tandem Diabetes Care by 34.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,863,987 shares of the medical device company’s stock worth $54,874,000 after buying an additional 740,499 shares during the last quarter.

About Tandem Diabetes Care

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.