Algert Global LLC Sells 8,150 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Algert Global LLC lowered its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 18.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,113 shares of the medical device company’s stock after selling 8,150 shares during the quarter. Algert Global LLC’s holdings in Tandem Diabetes Care were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TNDM. Oppenheimer & Co. Inc. lifted its position in Tandem Diabetes Care by 368.5% during the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after purchasing an additional 20,549 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Tandem Diabetes Care by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock valued at $11,540,000 after purchasing an additional 66,687 shares in the last quarter. LMR Partners LLP lifted its position in Tandem Diabetes Care by 235.5% during the third quarter. LMR Partners LLP now owns 33,824 shares of the medical device company’s stock valued at $1,434,000 after purchasing an additional 23,743 shares in the last quarter. abrdn plc purchased a new position in Tandem Diabetes Care during the third quarter valued at $6,126,000. Finally, The Manufacturers Life Insurance Company lifted its position in Tandem Diabetes Care by 310.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,980 shares of the medical device company’s stock valued at $1,450,000 after purchasing an additional 27,208 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on TNDM shares. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 target price on shares of Tandem Diabetes Care in a research report on Monday, September 23rd. Robert W. Baird lowered their price objective on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada started coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $55.00 price objective (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research report on Thursday, August 8th. They issued a “buy” rating and a $57.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.25.

Insiders Place Their Bets

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by insiders.

Tandem Diabetes Care Trading Up 3.9 %

Shares of NASDAQ TNDM opened at $31.22 on Friday. The business’s 50 day moving average is $35.16 and its two-hundred day moving average is $40.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 1-year low of $18.45 and a 1-year high of $53.69. The stock has a market capitalization of $2.05 billion, a P/E ratio of -16.18 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. As a group, research analysts expect 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.