Trade Report: The Stifel Nicolaus Downgraded Tandem Diabetes Care Inc. (TNDM) to Hold

The Stifel Nicolaus Downgraded Tandem Diabetes Care Inc. (TNDM) to Hold

Tandem Diabetes Care Inc. (NASDAQ:TNDM) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Wednesday. They currently have a $3.50 price objective on the medical device company’s stock, down from their previous price objective of $15.00. Stifel Nicolaus’ price target suggests a potential upside of 32.08% from the company’s current price.

Other equities analysts also recently issued reports about the stock. B. Riley began coverage on shares of Tandem Diabetes Care in a report on Monday, September 26th. They issued a “buy” rating and a $10.00 price objective on the stock. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a report on Wednesday, July 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of Tandem Diabetes Care in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.81.

Shares of Tandem Diabetes Care (NASDAQ:TNDM) traded up 6.00% during trading on Wednesday, reaching $2.65. 585,914 shares of the company traded hands. The company has a 50-day moving average of $4.48 and a 200-day moving average of $6.57. The stock’s market capitalization is $81.20 million. Tandem Diabetes Care has a 12 month low of $1.60 and a 12 month high of $12.48.

Several institutional investors have recently added to or reduced their stakes in TNDM. Iguana Healthcare Management LLC acquired a new position in Tandem Diabetes Care during the first quarter valued at approximately $1,266,000. Dowling & Yahnke LLC purchased a new stake in shares of Tandem Diabetes Care during the second quarter worth about $132,000. American Century Companies Inc. increased its stake in shares of Tandem Diabetes Care by 1.0% in the second quarter. American Century Companies Inc. now owns 246,224 shares of the medical device company’s stock worth $1,857,000 after buying an additional 2,483 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of Tandem Diabetes Care by 2.4% in the second quarter. Hood River Capital Management LLC now owns 528,871 shares of the medical device company’s stock worth $3,988,000 after buying an additional 12,545 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC increased its stake in shares of Tandem Diabetes Care by 41.9% in the second quarter. Quantitative Systematic Strategies LLC now owns 14,691 shares of the medical device company’s stock worth $108,000 after buying an additional 4,335 shares during the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

About Tandem Diabetes Care

Related posts

Leave a Comment