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

Morgan Stanley cut shares of Tandem Diabetes Care (NASDAQ:TNDM) from an overweight rating to an equal weight rating in a research note published on Wednesday morning, Marketbeat reports. The firm currently has $22.00 price target on the medical device company’s stock, down from their previous price target of $45.00.

Other equities research analysts also recently issued research reports about the company. Citigroup downgraded Tandem Diabetes Care from a “buy” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $24.00 in a research report on Tuesday. Royal Bank of Canada reduced their target price on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Sanford C. Bernstein lowered Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $35.00 to $25.00 in a report on Friday, February 28th. Barclays reduced their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, The Goldman Sachs Group cut their price objective on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.38.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $17.96 on Wednesday. Tandem Diabetes Care has a one year low of $17.92 and a one year high of $53.69. The stock has a fifty day moving average of $33.17 and a 200-day moving average of $35.55. The company has a market capitalization of $1.19 billion, a PE ratio of -9.31 and a beta of 1.45. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Hedge Funds Weigh In On Tandem Diabetes Care

Hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in Tandem Diabetes Care during the third quarter worth $28,000. Assetmark Inc. acquired a new stake in shares of Tandem Diabetes Care in the third quarter valued at about $29,000. AlphaQuest LLC grew its position in shares of Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 541 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Tandem Diabetes Care by 195.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock valued at $41,000 after purchasing an additional 748 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new stake in shares of Tandem Diabetes Care in the third quarter valued at about $52,000.

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.