Tandem Diabetes Care (NASDAQ:TNDM) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley downgraded shares of Tandem Diabetes Care (NASDAQ:TNDM) from an overweight rating to an equal weight rating in a research report released on Wednesday, MarketBeat.com reports. They currently have $22.00 target price on the medical device company’s stock, down from their previous target price of $45.00.

A number of other equities analysts have also recently issued reports on the stock. Barclays cut their target price on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company reissued an “equal weight” rating and issued a $22.00 price target (down previously from $38.00) on shares of Tandem Diabetes Care in a report on Monday. 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 report on Thursday, February 27th. 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 report on Thursday, February 27th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care presently has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Tandem Diabetes Care Stock Down 1.9 %

Shares of NASDAQ:TNDM opened at $19.11 on Wednesday. Tandem Diabetes Care has a 1-year low of $18.77 and a 1-year high of $53.69. The company’s fifty day moving average is $33.92 and its two-hundred day moving average is $35.86. 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.

Institutional Investors Weigh In On Tandem Diabetes Care

Institutional investors and hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in shares of Tandem Diabetes Care during the third quarter worth $28,000. Assetmark Inc. acquired a new stake in shares of Tandem Diabetes Care during the third quarter worth $29,000. AlphaQuest LLC raised its position in shares of Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after purchasing an additional 541 shares during the period. Jones Financial Companies Lllp raised its position in shares of Tandem Diabetes Care by 195.8% during the fourth 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 during the period. Finally, McIlrath & Eck LLC acquired a new stake in shares of Tandem Diabetes Care during the third quarter worth $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.