Raymond James Financial Services Advisors Inc. Trims Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Raymond James Financial Services Advisors Inc. trimmed its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Get Rating) by 2.3% in the 3rd quarter, Holdings Channel reports. The firm owned 19,173 shares of the medical device company’s stock after selling 445 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Tandem Diabetes Care were worth $917,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in Tandem Diabetes Care by 5.7% in the 2nd quarter. FMR LLC now owns 6,466,950 shares of the medical device company’s stock valued at $382,778,000 after purchasing an additional 347,352 shares during the period. Vanguard Group Inc. boosted its holdings in Tandem Diabetes Care by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 6,306,724 shares of the medical device company’s stock valued at $733,408,000 after purchasing an additional 146,577 shares during the period. Invesco Ltd. boosted its holdings in Tandem Diabetes Care by 7.1% in the 1st quarter. Invesco Ltd. now owns 2,080,173 shares of the medical device company’s stock valued at $241,904,000 after purchasing an additional 137,202 shares during the period. State Street Corp lifted its holdings in shares of Tandem Diabetes Care by 0.9% during the 2nd quarter. State Street Corp now owns 1,723,164 shares of the medical device company’s stock worth $101,994,000 after acquiring an additional 15,134 shares during the last quarter. Finally, Bellevue Group AG lifted its holdings in shares of Tandem Diabetes Care by 17.6% during the 1st quarter. Bellevue Group AG now owns 1,116,508 shares of the medical device company’s stock worth $129,839,000 after acquiring an additional 167,251 shares during the last quarter. 96.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Tandem Diabetes Care

In related news, COO David B. Berger sold 10,000 shares of the business’s stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $40.25, for a total transaction of $402,500.00. Following the transaction, the chief operating officer now owns 3,029 shares in the company, valued at $121,917.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Price Performance

TNDM stock opened at $42.70 on Friday. The firm’s 50-day moving average price is $41.95 and its two-hundred day moving average price is $49.04. Tandem Diabetes Care, Inc. has a 12-month low of $33.51 and a 12-month high of $125.54. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -39.91 and a beta of 0.87. The company has a current ratio of 4.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.67.

Tandem Diabetes Care (NASDAQ:TNDM – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.24). Tandem Diabetes Care had a negative net margin of 8.59% and a negative return on equity of 8.34%. The firm had revenue of $204.55 million during the quarter, compared to analysts’ expectations of $205.88 million. As a group, equities analysts predict that Tandem Diabetes Care, Inc. will post -0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TNDM. Cowen dropped their price objective on shares of Tandem Diabetes Care from $107.00 to $61.00 in a report on Thursday, November 3rd. Robert W. Baird dropped their price objective on shares of Tandem Diabetes Care from $76.00 to $45.00 in a report on Thursday, November 3rd. Piper Sandler dropped their price objective on shares of Tandem Diabetes Care from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, November 3rd. Citigroup lifted their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 in a report on Monday, December 12th. Finally, Jefferies Financial Group started coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 12th. They issued a “buy” rating and a $75.00 price target for the company. Four research analysts have rated the stock with a hold rating and five 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 a consensus target price of $75.50.

About Tandem Diabetes Care

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Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.