Principal Financial Group Inc. Has $15.71 Million Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Principal Financial Group Inc. lowered its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 17.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,322 shares of the medical device company's stock after selling 77,771 shares during the period. Principal Financial Group Inc. owned about 0.57% of Tandem Diabetes Care worth $15,705,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Tandem Diabetes Care by 11.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company's stock worth $172,000 after purchasing an additional 431 shares during the period. MN Wealth Advisors LLC boosted its stake in shares of Tandem Diabetes Care by 3.1% during the 2nd quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company's stock valued at $593,000 after buying an additional 440 shares during the period. Signaturefd LLC increased its stake in shares of Tandem Diabetes Care by 29.2% in the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company's stock worth $93,000 after acquiring an additional 522 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tandem Diabetes Care by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company's stock worth $603,000 after acquiring an additional 592 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Tandem Diabetes Care in the third quarter valued at about $30,000.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They issued a "neutral" rating and a $46.00 price target for the company. Royal Bank of Canada assumed coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 target price for the company. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a "buy" rating and a $57.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Finally, Robert W. Baird reduced their price target 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. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.25.

Tandem Diabetes Care Stock Down 4.4 %

Shares of TNDM traded down $1.25 during mid-day trading on Friday, hitting $27.34. 1,684,069 shares of the company's stock were exchanged, compared to its average volume of 1,606,610. The company has a market cap of $1.80 billion, a PE ratio of -14.17 and a beta of 1.36. Tandem Diabetes Care, Inc. has a 52 week low of $17.33 and a 52 week high of $53.69. The company has a 50-day simple moving average of $37.46 and a 200 day simple moving average of $41.64. 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 (NASDAQ:TNDM - Get Free Report) last issued its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $224.14 million. During the same period last year, the business posted ($0.38) EPS. Tandem Diabetes Care's revenue was up 31.4% on a year-over-year basis. On average, research analysts forecast that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

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.