Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 31.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,151 shares of the medical device company’s stock after selling 1,947 shares during the period. Van ECK Associates Corp’s holdings in Tandem Diabetes Care were worth $167,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Natixis Advisors L.P. acquired a new stake in shares of Tandem Diabetes Care during the fourth quarter worth $1,025,000. Charles Schwab Investment Management Inc. grew its stake in Tandem Diabetes Care by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 396,741 shares of the medical device company’s stock valued at $11,736,000 after purchasing an additional 29,730 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Tandem Diabetes Care by 55.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 33,013 shares of the medical device company’s stock valued at $977,000 after purchasing an additional 11,789 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Tandem Diabetes Care by 387.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,976 shares of the medical device company’s stock valued at $118,000 after purchasing an additional 3,161 shares during the period. Finally, Trexquant Investment LP raised its stake in shares of Tandem Diabetes Care by 159.9% in the fourth quarter. Trexquant Investment LP now owns 161,954 shares of the medical device company’s stock worth $4,791,000 after purchasing an additional 99,631 shares during the last quarter.

Tandem Diabetes Care Stock Performance

TNDM opened at $42.24 on Tuesday. The firm has a market capitalization of $2.77 billion, a PE ratio of -19.47 and a beta of 1.32. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. Tandem Diabetes Care, Inc. has a twelve month low of $13.82 and a twelve month high of $53.69. The firm’s 50-day moving average price is $42.03 and its 200 day moving average price is $39.66.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $205.63 million. During the same period in the previous year, the firm posted ($0.30) EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TNDM. Morgan Stanley initiated coverage on shares of Tandem Diabetes Care in a report on Thursday, August 22nd. They issued an “equal weight” rating and a $45.00 price target on the stock. Oppenheimer upped their price target on shares of Tandem Diabetes Care from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Robert W. Baird lifted their price objective on 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 research note on Friday, August 2nd. Finally, Lake Street Capital raised their target price on Tandem Diabetes Care from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.36.

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.