Tandem Diabetes Care (NASDAQ:TNDM) Reaches New 52-Week Low – What’s Next?

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $17.64 and last traded at $18.16, with a volume of 2088624 shares changing hands. The stock had previously closed at $17.96.

Wall Street Analyst Weigh In

Several research firms have recently commented on TNDM. Morgan Stanley cut shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $45.00 to $22.00 in a research note on Wednesday, March 5th. The Goldman Sachs Group decreased their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Royal Bank of Canada decreased their price target 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. Canaccord Genuity Group reissued a “buy” rating and set a $63.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Finally, Sanford C. Bernstein cut shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.38.

Tandem Diabetes Care Trading Up 1.1 %

The company’s fifty day simple moving average is $32.80 and its two-hundred day simple moving average is $35.29. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -9.41 and a beta of 1.45.

Institutional Investors Weigh In On Tandem Diabetes Care

Several hedge funds have recently bought and sold shares of TNDM. Hood River Capital Management LLC acquired a new stake in Tandem Diabetes Care in the fourth quarter worth $46,035,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Tandem Diabetes Care by 189.0% during 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 acquiring an additional 1,086,337 shares during the period. Brown Advisory Inc. acquired a new stake in shares of Tandem Diabetes Care during the fourth quarter worth $32,889,000. Park West Asset Management LLC raised its holdings in shares of Tandem Diabetes Care by 49.5% during 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 acquiring an additional 530,000 shares during the period. Finally, Baillie Gifford & Co. raised its holdings in shares of Tandem Diabetes Care by 235.7% during the fourth quarter. Baillie Gifford & Co. now owns 746,109 shares of the medical device company’s stock worth $26,875,000 after acquiring an additional 523,843 shares during the period.

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.