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

Amalgamated Bank lessened its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,292 shares of the medical device company’s stock after selling 457 shares during the quarter. Amalgamated Bank’s holdings in Tandem Diabetes Care were worth $818,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stephens Investment Management Group LLC grew its position in shares of Tandem Diabetes Care by 12.2% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock worth $54,051,000 after acquiring an additional 138,263 shares in the last quarter. abrdn plc acquired a new position in Tandem Diabetes Care in the third quarter worth $6,126,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Tandem Diabetes Care by 54.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,648 shares of the medical device company’s stock valued at $2,575,000 after purchasing an additional 21,282 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Tandem Diabetes Care by 21.2% during the third quarter. Assenagon Asset Management S.A. now owns 377,565 shares of the medical device company’s stock worth $16,013,000 after purchasing an additional 66,138 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Tandem Diabetes Care by 4,141.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,998 shares of the medical device company’s stock worth $297,000 after buying an additional 6,833 shares during the last quarter.

Wall Street Analyst Weigh In

TNDM has been the topic of several research reports. Canaccord Genuity Group dropped their price objective on shares of 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. Wells Fargo & Company increased their price target on Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Price Performance

NASDAQ:TNDM opened at $28.59 on Friday. Tandem Diabetes Care, Inc. has a 52-week low of $17.33 and a 52-week high of $53.69. The firm has a market cap of $1.88 billion, a P/E ratio of -14.93 and a beta of 1.36. The business’s 50-day moving average price is $38.05 and its 200 day moving average price is $41.76. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

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