Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lowered its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 44.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,772 shares of the medical device company’s stock after selling 4,644 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Tandem Diabetes Care were worth $245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Tandem Diabetes Care by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,021,906 shares of the medical device company’s stock valued at $207,708,000 after acquiring an additional 18,571 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 79.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,788 shares of the medical device company’s stock valued at $171,000 after purchasing an additional 2,562 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Tandem Diabetes Care by 20.3% in the 1st quarter. Park Avenue Securities LLC now owns 8,650 shares of the medical device company’s stock valued at $306,000 after purchasing an additional 1,459 shares during the period. MCF Advisors LLC increased its stake in Tandem Diabetes Care by 79.3% in the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after purchasing an additional 445 shares in the last quarter. Finally, LVW Advisors LLC acquired a new stake in Tandem Diabetes Care during the 1st quarter worth about $242,000.

Tandem Diabetes Care Trading Down 1.7 %

Tandem Diabetes Care stock opened at $33.54 on Wednesday. Tandem Diabetes Care, Inc. has a one year low of $13.82 and a one year high of $53.69. The company’s fifty day moving average price is $41.71 and its two-hundred day moving average price is $41.97. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 2.38. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -16.05 and a beta of 1.33.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The business had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. During the same quarter in the prior year, the firm posted ($0.30) EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TNDM has been the topic of several analyst reports. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price on the stock. Robert W. Baird boosted their target price on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler restated an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective for the company. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.13.

About Tandem Diabetes Care

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.