Bellevue Group AG Cuts Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Bellevue Group AG cut its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 57.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 782,456 shares of the medical device company's stock after selling 1,068,435 shares during the period. Bellevue Group AG owned about 1.19% of Tandem Diabetes Care worth $28,184,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company's stock valued at $8,379,000 after purchasing an additional 113,355 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Tandem Diabetes Care by 163.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock worth $65,000 after acquiring an additional 1,101 shares during the last quarter. US Bancorp DE grew its holdings in Tandem Diabetes Care by 15.2% during the 4th quarter. US Bancorp DE now owns 38,708 shares of the medical device company's stock worth $1,394,000 after acquiring an additional 5,108 shares in the last quarter. KBC Group NV raised its holdings in shares of Tandem Diabetes Care by 41.5% in the 4th quarter. KBC Group NV now owns 192,479 shares of the medical device company's stock valued at $6,933,000 after purchasing an additional 56,461 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Tandem Diabetes Care by 22.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company's stock valued at $236,000 after purchasing an additional 1,184 shares in the last quarter.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $21.48 on Friday. The stock's 50-day moving average price is $18.80 and its 200 day moving average price is $28.57. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $1.43 billion, a PE ratio of -11.13 and a beta of 1.52. Tandem Diabetes Care, Inc. has a 52-week low of $15.75 and a 52-week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. During the same period in the previous year, the firm posted ($0.65) EPS. The company's revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Insider Buying and Selling

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of the company's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the acquisition, the chief operating officer now owns 10,538 shares of the company's stock, valued at $190,948.56. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TNDM has been the topic of several recent analyst reports. Piper Sandler dropped their target price on Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday. Royal Bank of Canada cut their target price on Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Citigroup lowered shares of Tandem Diabetes Care from a "buy" rating to a "neutral" rating and dropped their price target for the company from $35.00 to $24.00 in a research note on Tuesday, March 4th. Mizuho began coverage on shares of Tandem Diabetes Care in a research report on Thursday, April 10th. They set a "neutral" rating and a $20.00 price objective for the company. Finally, Sanford C. Bernstein cut shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $35.00 to $25.00 in a report on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $39.81.

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.

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