Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Stake Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 17.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,322 shares of the medical device company’s stock after selling 77,771 shares during the period. Principal Financial Group Inc.’s holdings in Tandem Diabetes Care were worth $15,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hanseatic Management Services Inc. lifted its position in Tandem Diabetes Care by 5.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 13,941 shares of the medical device company’s stock worth $591,000 after acquiring an additional 710 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Tandem Diabetes Care by 12.2% during the third quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock valued at $54,051,000 after purchasing an additional 138,263 shares during the last quarter. abrdn plc bought a new stake in shares of Tandem Diabetes Care during the third quarter valued at approximately $6,126,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tandem Diabetes Care by 54.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,648 shares of the medical device company’s stock valued at $2,575,000 after buying an additional 21,282 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Tandem Diabetes Care by 21.2% in the third quarter. Assenagon Asset Management S.A. now owns 377,565 shares of the medical device company’s stock valued at $16,013,000 after buying an additional 66,138 shares during the period.

Analysts Set New Price Targets

Several research firms have weighed in on TNDM. Canaccord Genuity Group assumed coverage on shares of Tandem Diabetes Care in a report on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective for the company. Robert W. Baird cut their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Finally, Barclays raised their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Stock Down 4.4 %

Shares of Tandem Diabetes Care stock opened at $27.34 on Friday. Tandem Diabetes Care, Inc. has a 12-month low of $17.33 and a 12-month high of $53.69. The company has a market cap of $1.80 billion, a P/E ratio of -14.17 and a beta of 1.36. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $37.46 and its two-hundred day simple moving average is $41.60.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. Tandem Diabetes Care’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.38) EPS. Research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current year.

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.