Barclays PLC Sells 174,647 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Barclays PLC reduced its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 43.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,065 shares of the medical device company's stock after selling 174,647 shares during the quarter. Barclays PLC owned 0.35% of Tandem Diabetes Care worth $9,800,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC lifted its position in shares of Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company's stock worth $87,595,000 after purchasing an additional 677,036 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Tandem Diabetes Care by 2,836.2% in the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company's stock worth $16,252,000 after acquiring an additional 389,632 shares in the last quarter. Bellevue Group AG increased its holdings in shares of Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company's stock valued at $78,496,000 after acquiring an additional 307,624 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at approximately $10,208,000. Finally, First Light Asset Management LLC lifted its stake in Tandem Diabetes Care by 49.1% during the second quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company's stock worth $28,545,000 after purchasing an additional 233,405 shares during the last quarter.

Analyst Upgrades and Downgrades

TNDM has been the topic of a number of research reports. Morgan Stanley raised shares of Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 target price on the stock in a report on Monday, December 2nd. Canaccord Genuity Group cut their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Sanford C. Bernstein began coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an "outperform" rating and a $42.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a "neutral" rating and a $46.00 target price on the stock. Finally, Citigroup reduced their price target on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $53.81.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock traded up $0.65 during midday trading on Tuesday, hitting $34.23. The company had a trading volume of 987,660 shares, compared to its average volume of 1,579,193. The business's 50 day simple moving average is $32.65 and its two-hundred day simple moving average is $39.37. The stock has a market cap of $2.25 billion, a PE ratio of -17.06 and a beta of 1.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 1-year low of $21.85 and a 1-year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to analysts' expectations of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company's revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.38) EPS. As a group, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Activity

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the business's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now owns 195,190 shares of the company's stock, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.

Tandem Diabetes Care 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.