Public Employees Retirement System of Ohio Sells 2,906 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Public Employees Retirement System of Ohio reduced its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 10.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,243 shares of the medical device company’s stock after selling 2,906 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Tandem Diabetes Care were worth $545,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Tandem Diabetes Care by 45.1% in the first quarter. BlackRock Inc. now owns 9,207,560 shares of the medical device company’s stock worth $373,919,000 after acquiring an additional 2,861,120 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Tandem Diabetes Care by 2.4% in the first quarter. Vanguard Group Inc. now owns 6,306,724 shares of the medical device company’s stock worth $733,408,000 after acquiring an additional 146,577 shares in the last quarter. Eminence Capital LP grew its holdings in shares of Tandem Diabetes Care by 76.1% during the third quarter. Eminence Capital LP now owns 5,490,017 shares of the medical device company’s stock worth $114,028,000 after buying an additional 2,372,458 shares in the last quarter. State Street Corp grew its holdings in shares of Tandem Diabetes Care by 9.2% during the second quarter. State Street Corp now owns 2,257,428 shares of the medical device company’s stock worth $55,397,000 after buying an additional 190,499 shares in the last quarter. Finally, Bellevue Group AG grew its holdings in shares of Tandem Diabetes Care by 16.7% during the second quarter. Bellevue Group AG now owns 2,092,934 shares of the medical device company’s stock worth $51,361,000 after buying an additional 299,171 shares in the last quarter.

Analyst Upgrades and Downgrades

TNDM has been the subject of a number of research reports. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Citigroup increased their price target on Tandem Diabetes Care from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Stifel Nicolaus raised Tandem Diabetes Care from a “hold” rating to a “buy” rating and raised their price objective for the company from $24.00 to $37.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.08.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $35.30 on Thursday. The stock has a market cap of $2.32 billion, a P/E ratio of -10.26 and a beta of 1.08. The stock has a 50 day simple moving average of $26.54 and a 200 day simple moving average of $23.50. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. Tandem Diabetes Care, Inc. has a 1-year low of $13.82 and a 1-year high of $43.51.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $196.80 million for the quarter, compared to analyst estimates of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. Research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.62 earnings per share 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.