Principal Financial Group Inc. Sells 77,771 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Principal Financial Group Inc. lowered its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 17.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 370,322 shares of the medical device company's stock after selling 77,771 shares during the quarter. Principal Financial Group Inc. owned about 0.56% of Tandem Diabetes Care worth $15,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of Tandem Diabetes Care by 17.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 494,313 shares of the medical device company's stock worth $19,916,000 after acquiring an additional 73,397 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Tandem Diabetes Care by 14.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,569 shares of the medical device company's stock worth $305,000 after purchasing an additional 934 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in 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 valued at $603,000 after buying an additional 592 shares during the period. Signaturefd LLC lifted its position in Tandem Diabetes Care by 29.2% during the second quarter. Signaturefd LLC now owns 2,307 shares of the medical device company's stock valued at $93,000 after buying an additional 522 shares during the period. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Tandem Diabetes Care during the 2nd quarter valued at $2,911,000.

Insiders Place Their Bets

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now directly owns 195,190 shares of the company's stock, valued at approximately $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company's stock.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock traded down $0.49 during midday trading on Friday, reaching $36.88. 642,749 shares of the company traded hands, compared to its average volume of 1,571,757. Tandem Diabetes Care, Inc. has a 12 month low of $21.85 and a 12 month high of $53.69. 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 business has a 50 day moving average of $32.38 and a two-hundred day moving average of $38.61. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -19.11 and a beta of 1.32.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share 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 during the quarter, compared to analyst estimates of $224.14 million. During the same period in the previous year, the business earned ($0.38) EPS. The company's quarterly revenue was up 31.4% compared to the same quarter last year. As a group, research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

TNDM has been the subject of a number of recent research reports. Royal Bank of Canada started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an "outperform" rating and a $65.00 price target for the company. Citigroup dropped their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley raised Tandem Diabetes Care from an "equal weight" rating to an "overweight" rating and set a $45.00 price objective for the company in a research report on Monday, December 2nd. Barclays boosted their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Finally, 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 report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of "Moderate Buy" and an average target price of $53.81.

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.