Mirae Asset Global Investments Co. Ltd. Sells 265,554 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 88.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,060 shares of the medical device company's stock after selling 265,554 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.05% of Tandem Diabetes Care worth $692,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. AlphaQuest LLC boosted its stake in Tandem Diabetes Care by 138.7% during the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock worth $34,000 after acquiring an additional 541 shares during the last quarter. NBC Securities Inc. acquired a new stake in Tandem Diabetes Care in the first quarter worth $37,000. Jones Financial Companies Lllp boosted its position in shares of Tandem Diabetes Care by 195.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after purchasing an additional 748 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Tandem Diabetes Care by 77.5% in the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock valued at $44,000 after buying an additional 535 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Tandem Diabetes Care by 163.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after buying an additional 1,101 shares in the last quarter.

Tandem Diabetes Care Trading Down 0.1%

Shares of Tandem Diabetes Care stock opened at $17.06 on Friday. The stock has a market cap of $1.14 billion, a P/E ratio of -6.14 and a beta of 1.48. The company has a quick ratio of 1.81, a current ratio of 2.30 and a debt-to-equity ratio of 1.99. Tandem Diabetes Care, Inc. has a 12-month low of $15.75 and a 12-month high of $48.24. The business's 50 day moving average is $20.53 and its 200-day moving average is $25.09.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The firm had revenue of $234.42 million during the quarter, compared to analyst estimates of $220.19 million. During the same quarter in the prior year, the business earned ($0.65) EPS. The business's revenue was up 22.3% compared to the same quarter last year. Equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TNDM has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Piper Sandler cut their price target on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Truist Financial initiated coverage on shares of Tandem Diabetes Care in a research report on Monday, June 16th. They set a "hold" rating and a $24.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Robert W. Baird reduced their target price on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Tandem Diabetes Care presently has an average rating of "Hold" and an average target price of $33.43.

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.

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