Tandem Diabetes Care’s (TNDM) “Equal Weight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of Tandem Diabetes Care (NASDAQ:TNDM) in a report released on Monday morning, Marketbeat.com reports. The brokerage currently has a $22.00 price target on the medical device company’s stock, down from their previous price target of $38.00.

A number of other analysts also recently issued reports on the stock. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research report on Monday, December 2nd. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $35.00 to $25.00 in a research report on Friday, February 28th. Royal Bank of Canada dropped their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Robert W. Baird decreased their price target on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Citigroup decreased their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Moderate Buy” and an average price target of $45.38.

Tandem Diabetes Care Stock Down 1.9 %

TNDM opened at $19.11 on Monday. The firm has a 50 day moving average price of $33.92 and a 200 day moving average price of $35.86. The company has a market cap of $1.27 billion, a PE ratio of -9.90 and a beta of 1.32. Tandem Diabetes Care has a 1 year low of $18.77 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds have recently made changes to their positions in TNDM. Hood River Capital Management LLC acquired a new stake in shares of Tandem Diabetes Care during the fourth quarter worth approximately $46,035,000. Jacobs Levy Equity Management Inc. boosted its holdings in Tandem Diabetes Care by 189.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock worth $59,830,000 after purchasing an additional 1,086,337 shares during the period. Brown Advisory Inc. acquired a new position in Tandem Diabetes Care in the fourth quarter worth $32,889,000. Park West Asset Management LLC boosted its holdings in Tandem Diabetes Care by 49.5% in the fourth quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company’s stock worth $57,632,000 after purchasing an additional 530,000 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in Tandem Diabetes Care by 235.7% in the fourth quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock worth $26,875,000 after purchasing an additional 523,843 shares during the period.

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.