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

Tandem Diabetes Care (NASDAQ:TNDM) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. They presently have a $22.00 price objective on the medical device company’s stock, down from their previous price objective of $45.00. Morgan Stanley’s price objective points to a potential upside of 12.88% from the stock’s previous close.

TNDM has been the subject of a number of other reports. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Robert W. Baird dropped their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company reissued an “equal weight” rating and set a $22.00 target price (down from $38.00) on shares of Tandem Diabetes Care in a report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $63.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reduced 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. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.38.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $19.49 on Wednesday. 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 stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -10.10 and a beta of 1.32. Tandem Diabetes Care has a twelve month low of $18.77 and a twelve month high of $53.69. The company has a 50-day simple moving average of $34.28 and a two-hundred day simple moving average of $35.98.

Hedge Funds Weigh In On Tandem Diabetes Care

Large investors have recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Tandem Diabetes Care in the third quarter valued at approximately $28,000. Assetmark Inc. acquired a new position in Tandem Diabetes Care in the 3rd quarter valued at approximately $29,000. AlphaQuest LLC increased its position in Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 541 shares during the period. Jones Financial Companies Lllp raised its stake 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 valued at $41,000 after acquiring an additional 748 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new position 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.