Tandem Diabetes Care, Inc. $TNDM Position Trimmed by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 4.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,063,314 shares of the medical device company’s stock after selling 306,516 shares during the quarter. Vanguard Group Inc. owned approximately 10.45% of Tandem Diabetes Care worth $85,749,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of TNDM. Nisa Investment Advisors LLC boosted its position in Tandem Diabetes Care by 186.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after acquiring an additional 2,717 shares during the period. CoreCap Advisors LLC lifted its holdings in Tandem Diabetes Care by 270.3% in the third quarter. CoreCap Advisors LLC now owns 4,751 shares of the medical device company’s stock worth $58,000 after purchasing an additional 3,468 shares during the period. Tower Research Capital LLC TRC grew its position in Tandem Diabetes Care by 218.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,168 shares of the medical device company’s stock valued at $171,000 after buying an additional 6,290 shares in the last quarter. 180 Wealth Advisors LLC acquired a new position in Tandem Diabetes Care during the 3rd quarter valued at about $126,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Tandem Diabetes Care during the 1st quarter worth about $225,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Cowen began coverage on shares of Tandem Diabetes Care in a research note on Tuesday, January 27th. They set a “buy” rating and a $25.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Tandem Diabetes Care from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Piper Sandler reiterated a “neutral” rating and set a $21.00 price objective (up from $14.00) on shares of Tandem Diabetes Care in a report on Friday, February 20th. Truist Financial reaffirmed a “hold” rating and set a $27.00 price objective (up from $24.00) on shares of Tandem Diabetes Care in a research report on Monday, February 23rd. Finally, Citigroup upped their price objective on shares of Tandem Diabetes Care from $16.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Tandem Diabetes Care has a consensus rating of “Hold” and an average target price of $28.11.

Tandem Diabetes Care Trading Down 3.3%

Shares of TNDM stock opened at $22.63 on Friday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -7.37 and a beta of 1.63. The firm has a fifty day moving average of $21.42 and a 200-day moving average of $17.85. Tandem Diabetes Care, Inc. has a 52-week low of $9.98 and a 52-week high of $29.65. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.02 and a current ratio of 2.55.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Thursday, February 19th. The medical device company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The business had revenue of $290.38 million for the quarter, compared to the consensus estimate of $277.14 million. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.Tandem Diabetes Care’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.