Amalgamated Bank Decreases Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Amalgamated Bank lessened its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,749 shares of the medical device company’s stock after selling 2,120 shares during the quarter. Amalgamated Bank’s holdings in Tandem Diabetes Care were worth $796,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC bought a new stake in Tandem Diabetes Care during the second quarter worth approximately $31,000. Headlands Technologies LLC purchased a new position in Tandem Diabetes Care during the first quarter valued at approximately $35,000. MCF Advisors LLC lifted its stake in shares of Tandem Diabetes Care by 79.3% during 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 during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Tandem Diabetes Care in the 2nd quarter worth approximately $86,000. Finally, Signaturefd LLC lifted its holdings in shares of Tandem Diabetes Care by 29.2% during the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after purchasing an additional 522 shares during the last quarter.

Tandem Diabetes Care Trading Down 3.7 %

Tandem Diabetes Care stock opened at $42.45 on Friday. The firm’s 50 day moving average price is $42.18 and its two-hundred day moving average price is $41.10. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -19.56 and a beta of 1.32. Tandem Diabetes Care, Inc. has a 1 year low of $13.82 and a 1 year high of $53.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05.

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

Analyst Upgrades and Downgrades

TNDM has been the topic of several research analyst reports. Barclays boosted their target price on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Morgan Stanley reissued an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. 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 target price for the company. Finally, Robert W. Baird upped their target price on shares of Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.36.

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.