Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Downgraded by Zacks Investment Research

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, August 2nd.

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 research analysts have also recently weighed in on TNDM. Cowen and Company cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and set a $1.50 price objective on the stock. in a research report on Monday, April 10th. B. Riley restated a “neutral” rating and issued a $1.50 price objective on shares of Tandem Diabetes Care in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $4.71.

Tandem Diabetes Care (NASDAQ:TNDM) opened at 0.44 on Wednesday. The company’s market capitalization is $22.10 million. Tandem Diabetes Care has a 52-week low of $0.39 and a 52-week high of $8.81. The company’s 50-day moving average is $0.62 and its 200-day moving average is $1.27.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, July 27th. The medical device company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.04. The firm had revenue of $21.30 million for the quarter, compared to the consensus estimate of $21.74 million. Tandem Diabetes Care had a negative net margin of 110.70% and a negative return on equity of 1,177.11%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.60) earnings per share. On average, analysts expect that Tandem Diabetes Care will post ($1.79) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wrapmanager Inc. boosted its position in shares of Tandem Diabetes Care by 59.2% in the first quarter. Wrapmanager Inc. now owns 96,405 shares of the medical device company’s stock worth $116,000 after buying an additional 35,866 shares during the last quarter. Iguana Healthcare Management LLC boosted its position in shares of Tandem Diabetes Care by 33.3% in the first quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the medical device company’s stock worth $120,000 after buying an additional 25,000 shares during the last quarter. OLD National Bancorp IN boosted its position in shares of Tandem Diabetes Care by 31.0% in the first quarter. OLD National Bancorp IN now owns 119,779 shares of the medical device company’s stock worth $144,000 after buying an additional 28,320 shares during the last quarter. Monashee Investment Management LLC acquired a new position in shares of Tandem Diabetes Care during the first quarter worth approximately $180,000. Finally, Group One Trading L.P. acquired a new position in shares of Tandem Diabetes Care during the first quarter worth approximately $185,000. Institutional investors and hedge funds own 45.99% of the company’s stock.

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).

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