UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 147,606 shares of the medical device company’s stock after selling 5,546 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tandem Diabetes Care were worth $6,260,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Brooklyn Investment Group acquired a new position in shares of Tandem Diabetes Care during the third quarter worth $28,000. Assetmark Inc. bought a new stake in Tandem Diabetes Care during the third quarter valued at $29,000. ORG Wealth Partners LLC acquired a new position in shares of Tandem Diabetes Care during the third quarter valued at $30,000. ORG Partners LLC acquired a new stake in Tandem Diabetes Care in the second quarter worth about $31,000. Finally, Waldron Private Wealth LLC acquired a new stake in Tandem Diabetes Care in the third quarter worth about $50,000.

Insider Activity

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group cut their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research report on Monday, December 2nd. The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price for the company. Royal Bank of Canada assumed coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective for the company. Finally, Robert W. Baird lowered their target price on 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. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Stock Up 5.3 %

Shares of Tandem Diabetes Care stock opened at $33.81 on Wednesday. The business’s 50 day simple moving average is $33.25 and its 200 day simple moving average is $39.90. Tandem Diabetes Care, Inc. has a 52-week low of $21.85 and a 52-week high of $53.69. The firm has a market cap of $2.22 billion, a PE ratio of -17.52 and a beta of 1.33. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $224.14 million. During the same period in the prior year, the firm posted ($0.38) earnings per share. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal 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.