US Bancorp DE Boosts Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

US Bancorp DE grew its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDMGet Rating) by 32.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,344 shares of the medical device company’s stock after buying an additional 3,295 shares during the period. US Bancorp DE’s holdings in Tandem Diabetes Care were worth $637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in shares of Tandem Diabetes Care by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company’s stock worth $726,000 after acquiring an additional 164 shares during the period. Securian Asset Management Inc. increased its stake in shares of Tandem Diabetes Care by 3.2% in the second quarter. Securian Asset Management Inc. now owns 5,831 shares of the medical device company’s stock worth $345,000 after acquiring an additional 179 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Tandem Diabetes Care by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company’s stock worth $654,000 after acquiring an additional 184 shares during the period. Comerica Bank increased its stake in shares of Tandem Diabetes Care by 0.7% in the second quarter. Comerica Bank now owns 29,239 shares of the medical device company’s stock worth $1,698,000 after acquiring an additional 217 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Tandem Diabetes Care by 5.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,179 shares of the medical device company’s stock worth $296,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 96.50% of the company’s stock.

Wall Street Analyst Weigh In

TNDM has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, October 12th. They issued a “buy” rating and a $75.00 price objective for the company. Barclays began coverage on shares of Tandem Diabetes Care in a report on Monday, October 17th. They issued an “overweight” rating and a $75.00 price objective for the company. Cowen dropped their target price on shares of Tandem Diabetes Care from $107.00 to $61.00 in a research report on Thursday, November 3rd. Craig Hallum dropped their target price on shares of Tandem Diabetes Care from $105.00 to $80.00 in a research report on Thursday, November 3rd. Finally, Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $76.00 to $45.00 in a research report on Thursday, November 3rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.50.

Insiders Place Their Bets

In other Tandem Diabetes Care news, COO David B. Berger sold 10,000 shares of Tandem Diabetes Care 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 directly owns 3,029 shares of the company’s stock, valued at $121,917.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by insiders.

Tandem Diabetes Care Stock Performance

TNDM opened at $42.70 on Friday. The firm has a market capitalization of $2.75 billion, a PE ratio of -39.91 and a beta of 0.87. Tandem Diabetes Care, Inc. has a twelve month low of $33.51 and a twelve month high of $125.54. The firm’s 50-day moving average price is $41.95 and its 200 day moving average price is $49.04. 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:TNDMGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The medical device company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.24). The business had revenue of $204.55 million for the quarter, compared to analyst estimates of $205.88 million. Tandem Diabetes Care had a negative return on equity of 8.34% and a negative net margin of 8.59%. As a group, sell-side analysts expect that Tandem Diabetes Care, Inc. will post -0.76 EPS for the current fiscal year.

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.

Further Reading

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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