Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,847 shares of the medical device company’s stock after selling 770 shares during the period. Mutual of America Capital Management LLC’s holdings in Tandem Diabetes Care were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Fred Alger Management LLC lifted its stake in shares of Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Tandem Diabetes Care by 2,836.2% in the second quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after purchasing an additional 389,632 shares during the period. First Light Asset Management LLC grew its holdings in Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after purchasing an additional 233,405 shares in the last quarter. Chicago Capital LLC increased its position in shares of Tandem Diabetes Care by 22.2% during the third quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock worth $42,543,000 after acquiring an additional 182,085 shares during the last quarter. Finally, abrdn plc acquired a new position in shares of Tandem Diabetes Care in the third quarter worth about $6,126,000.

Analyst Upgrades and Downgrades

TNDM has been the subject of a number of recent analyst reports. Sanford C. Bernstein began coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and set a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a research note 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 report on Monday, September 23rd. Robert W. Baird cut their target price on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group cut 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. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Insider Activity

In related news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director now directly owns 195,190 shares in the company, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Stock Up 3.9 %

Shares of Tandem Diabetes Care stock opened at $31.22 on Thursday. Tandem Diabetes Care, Inc. has a 1-year low of $18.45 and a 1-year high of $53.69. The company has a market capitalization of $2.05 billion, a P/E ratio of -15.56 and a beta of 1.36. The business’s fifty day moving average price is $35.65 and its two-hundred day moving average price is $41.04. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

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

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.