Bellevue Group AG increased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 19.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,850,891 shares of the medical device company's stock after buying an additional 307,624 shares during the quarter. Tandem Diabetes Care comprises about 1.3% of Bellevue Group AG's investment portfolio, making the stock its 23rd biggest position. Bellevue Group AG owned 2.82% of Tandem Diabetes Care worth $78,496,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at about $28,000. Assetmark Inc. purchased a new stake in Tandem Diabetes Care during the third quarter worth approximately $29,000. ORG Wealth Partners LLC purchased a new stake in Tandem Diabetes Care during the third quarter worth approximately $30,000. ORG Partners LLC acquired a new stake in shares of Tandem Diabetes Care in the second quarter worth $31,000. Finally, Waldron Private Wealth LLC purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $50,000.
Tandem Diabetes Care Stock Performance
Shares of NASDAQ TNDM traded down $0.59 during mid-day trading on Friday, hitting $30.63. The company had a trading volume of 446,552 shares, compared to its average volume of 1,668,398. Tandem Diabetes Care, Inc. has a 12 month low of $18.45 and a 12 month high of $53.69. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -15.87 and a beta of 1.36. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm's 50 day simple moving average is $34.88 and its two-hundred day simple moving average is $40.74.
Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.08. The firm had revenue of $243.97 million during the quarter, compared to analyst estimates of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. Tandem Diabetes Care's revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) EPS. As a group, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.
Analysts Set New Price Targets
TNDM has been the subject of a number of research reports. Morgan Stanley reaffirmed an "equal weight" rating and set a $45.00 price target on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Robert W. Baird dropped their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an "outperform" rating and a $42.00 price objective for the company. Royal Bank of Canada started coverage on Tandem Diabetes Care in a report on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 price objective on the stock. Finally, Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a "buy" rating and a $57.00 target price for the company. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of "Moderate Buy" and an average target price of $54.25.
Read Our Latest Stock Analysis on TNDM
Insider Activity at Tandem Diabetes Care
In related news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the director now owns 195,190 shares in the company, valued at $5,855,700. This represents a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.
About Tandem Diabetes Care
(
Free Report)
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.
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