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 research report report published on Monday, Marketbeat Ratings reports. Wells Fargo & Company currently has a $22.00 price target on the medical device company’s stock, down from their prior price target of $38.00.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Monday, December 2nd. Citigroup cut their price objective on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada cut their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird cut their price objective on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.38.

Tandem Diabetes Care Stock Performance

TNDM stock opened at $19.11 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The stock has a market capitalization of $1.27 billion, a price-to-earnings 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 stock’s fifty day moving average is $33.92 and its two-hundred day moving average is $35.86.

Hedge Funds Weigh In On Tandem Diabetes Care

Institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care in the 3rd quarter worth about $28,000. Assetmark Inc. purchased a new position in Tandem Diabetes Care in the 3rd quarter worth about $29,000. AlphaQuest LLC increased its stake in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after purchasing an additional 541 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after purchasing an additional 748 shares in the last quarter. Finally, McIlrath & Eck LLC purchased a new position in Tandem Diabetes Care in the 3rd quarter worth about $52,000.

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.