Hsbc Holdings PLC Sells 56,373 Shares of Tandem Diabetes Care, Inc. $TNDM

Hsbc Holdings PLC reduced its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 60.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,553 shares of the medical device company’s stock after selling 56,373 shares during the quarter. Hsbc Holdings PLC’s holdings in Tandem Diabetes Care were worth $810,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its stake in shares of Tandem Diabetes Care by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company’s stock valued at $849,000 after purchasing an additional 523 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Tandem Diabetes Care by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company’s stock valued at $290,000 after buying an additional 579 shares during the period. Smartleaf Asset Management LLC raised its stake in Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after buying an additional 593 shares in the last quarter. Natixis Advisors LLC raised its stake in Tandem Diabetes Care by 1.1% in the fourth quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company’s stock worth $1,253,000 after buying an additional 617 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in Tandem Diabetes Care by 1.8% in the fourth quarter. LPL Financial LLC now owns 39,590 shares of the medical device company’s stock worth $870,000 after buying an additional 716 shares during the period.

Tandem Diabetes Care Trading Down 4.4%

NASDAQ:TNDM opened at $15.54 on Wednesday. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $29.65. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07. The company’s 50-day simple moving average is $15.89 and its 200 day simple moving average is $19.33. The firm has a market capitalization of $1.06 billion, a P/E ratio of -11.10 and a beta of 1.58.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The business had revenue of $247.22 million for the quarter, compared to analysts’ expectations of $240.41 million. During the same quarter in the prior year, the company earned ($0.66) earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Tandem Diabetes Care, Inc. will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on TNDM. Weiss Ratings cut Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Piper Sandler raised Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $21.00 to $33.00 in a research report on Tuesday, March 17th. Mizuho set a $24.00 target price on Tandem Diabetes Care in a research note on Friday, May 8th. The Goldman Sachs Group set a $21.00 price target on Tandem Diabetes Care in a research report on Wednesday, May 27th. Finally, Bank of America reduced their price target on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Tandem Diabetes Care has a consensus rating of “Hold” and a consensus target price of $29.12.

Tandem Diabetes Care 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.