Rhumbline Advisers Trims Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)
Rhumbline Advisers decreased its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Free Report) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,613 shares of the medical device company’s stock after selling 11,895 shares during the quarter. Rhumbline Advisers owned approximately 0.27% of Tandem Diabetes Care worth $7,213,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Tandem Diabetes Care by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company’s stock worth $726,000 after buying an additional 164 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Tandem Diabetes Care by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company’s stock worth $654,000 after acquiring an additional 184 shares during the period. State of Wyoming boosted its stake in shares of Tandem Diabetes Care by 45.8% in the fourth quarter. State of Wyoming now owns 821 shares of the medical device company’s stock worth $37,000 after acquiring an additional 258 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Tandem Diabetes Care by 53.5% in the fourth quarter. Quadrant Capital Group LLC now owns 841 shares of the medical device company’s stock worth $38,000 after acquiring an additional 293 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Tandem Diabetes Care by 0.3% in the second quarter. Legal & General Group Plc now owns 97,817 shares of the medical device company’s stock worth $5,790,000 after acquiring an additional 318 shares during the period.
Tandem Diabetes Care Price Performance
NASDAQ:TNDM opened at $27.25 on Wednesday. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -7.83 and a beta of 0.87. Tandem Diabetes Care, Inc. has a 1 year low of $23.60 and a 1 year high of $59.91. The business has a 50 day simple moving average of $29.10 and a 200-day simple moving average of $32.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.38 and a quick ratio of 3.53.
Tandem Diabetes Care (NASDAQ:TNDM – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The medical device company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.24. Tandem Diabetes Care had a negative return on equity of 20.29% and a negative net margin of 28.40%. The firm had revenue of $195.92 million for the quarter, compared to the consensus estimate of $201.62 million. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.49 EPS for the current year.
Analysts Set New Price Targets
TNDM has been the subject of a number of recent analyst reports. Robert W. Baird dropped their price objective on Tandem Diabetes Care from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, August 21st. TD Cowen dropped their price objective on Tandem Diabetes Care from $52.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Citigroup dropped their price objective on Tandem Diabetes Care from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, August 21st. StockNews.com initiated coverage on Tandem Diabetes Care in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Barclays dropped their price target on Tandem Diabetes Care from $71.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus price target of $46.80.
View Our Latest Stock Report on TNDM
About Tandem Diabetes Care
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company’s flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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