KBC Group NV Has $5.77 Million Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

KBC Group NV lowered its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 43.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,018 shares of the medical device company’s stock after selling 103,396 shares during the period. KBC Group NV owned 0.21% of Tandem Diabetes Care worth $5,769,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. lifted its holdings in Tandem Diabetes Care by 368.5% in the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after buying an additional 20,549 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Tandem Diabetes Care by 20.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 59,092 shares of the medical device company’s stock valued at $2,506,000 after purchasing an additional 9,899 shares during the period. Victory Capital Management Inc. boosted its position in shares of Tandem Diabetes Care by 45.6% in the 3rd quarter. Victory Capital Management Inc. now owns 587,247 shares of the medical device company’s stock worth $24,905,000 after purchasing an additional 183,877 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Tandem Diabetes Care during the third quarter worth $263,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in Tandem Diabetes Care by 24.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 44,776 shares of the medical device company’s stock valued at $1,899,000 after purchasing an additional 8,837 shares during the last quarter.

Tandem Diabetes Care Trading Down 4.4 %

Shares of Tandem Diabetes Care stock opened at $27.34 on Monday. Tandem Diabetes Care, Inc. has a 12-month low of $17.33 and a 12-month high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $37.46 and its 200-day moving average is $41.64. The stock has a market cap of $1.80 billion, a P/E ratio of -14.17 and a beta of 1.36.

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

Analyst Upgrades and Downgrades

TNDM has been the topic of several recent analyst reports. UBS Group raised shares of Tandem Diabetes Care to a “hold” rating in a research note on Friday, August 2nd. Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price target for the company. Canaccord Genuity Group dropped their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Barclays boosted their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group began coverage on Tandem Diabetes Care in a report on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective on the stock. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average target price of $54.25.

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.