KBC Group NV reduced its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 43.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,018 shares of the medical device company's stock after selling 103,396 shares during the period. KBC Group NV owned approximately 0.21% of Tandem Diabetes Care worth $5,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care in the third quarter worth about $29,000. ORG Wealth Partners LLC bought a new stake in Tandem Diabetes Care in the third quarter worth $30,000. ORG Partners LLC purchased a new stake in Tandem Diabetes Care during the second quarter valued at $31,000. Waldron Private Wealth LLC purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter worth $50,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Tandem Diabetes Care by 110.0% in the 2nd quarter. Headlands Technologies LLC now owns 2,060 shares of the medical device company's stock valued at $83,000 after acquiring an additional 1,079 shares during the last quarter.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on TNDM shares. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 price target for the company. UBS Group upgraded shares of Tandem Diabetes Care to a "hold" rating in a report on Friday, August 2nd. Piper Sandler restated an "overweight" rating and issued a $55.00 price target (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Canaccord Genuity Group reduced their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Finally, Robert W. Baird cut their target price on 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. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care has an average rating of "Moderate Buy" and an average target price of $54.25.
Check Out Our Latest Stock Analysis on Tandem Diabetes Care
Tandem Diabetes Care Trading Up 6.3 %
TNDM traded up $1.72 during mid-day trading on Monday, hitting $29.06. 987,162 shares of the stock were exchanged, compared to its average volume of 1,603,833. The company has a market cap of $1.91 billion, a PE ratio of -14.51 and a beta of 1.36. 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, Inc. has a 1-year low of $17.33 and a 1-year high of $53.69. The firm's fifty day moving average is $37.46 and its two-hundred day moving average is $41.68.
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, beating analysts' consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million for the quarter, compared to analysts' expectations of $224.14 million. During the same period in the previous year, the company posted ($0.38) EPS. The company's quarterly revenue was up 31.4% on a year-over-year basis. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.
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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