Janus Henderson Group PLC cut its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 37.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 913,541 shares of the medical device company's stock after selling 536,634 shares during the quarter. Janus Henderson Group PLC owned about 1.39% of Tandem Diabetes Care worth $38,743,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $28,000. Assetmark Inc. acquired a new stake in shares of Tandem Diabetes Care during the third quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new stake in shares of Tandem Diabetes Care during the 3rd quarter valued at $30,000. ORG Partners LLC purchased a new position in Tandem Diabetes Care in the second quarter valued at about $31,000. Finally, Waldron Private Wealth LLC bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at approximately $50,000.
Tandem Diabetes Care Price Performance
TNDM stock traded down $0.16 during trading on Friday, hitting $30.11. 923,566 shares of the stock traded hands, compared to its average volume of 1,574,824. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -15.60 and a beta of 1.32. Tandem Diabetes Care, Inc. has a one year low of $21.85 and a one year high of $53.69. The company has a 50 day simple moving average of $33.61 and a 200 day simple moving average of $40.23. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29.
Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. The company had revenue of $243.97 million for 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 business's revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.38) earnings per share. Equities analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.
Insider Transactions at Tandem Diabetes Care
In other news, Director Kim D. Blickenstaff sold 10,000 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 195,190 shares of the company's stock, valued at $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is owned by company insiders.
Analyst Ratings Changes
Several brokerages have recently commented on TNDM. Canaccord Genuity Group dropped their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Sanford C. Bernstein started coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 price objective on the stock. The Goldman Sachs Group began coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They set a "neutral" rating and a $46.00 target price for the company. Barclays lifted their price target on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Finally, Robert W. Baird decreased their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tandem Diabetes Care has a consensus rating of "Moderate Buy" and an average price target of $54.25.
View Our Latest Stock Analysis on TNDM
Tandem Diabetes Care Company Profile
(
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.
See Also
Before you consider Tandem Diabetes Care, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tandem Diabetes Care wasn't on the list.
While Tandem Diabetes Care currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
