Janney Montgomery Scott LLC Trims Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Janney Montgomery Scott LLC decreased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 16.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,828 shares of the medical device company’s stock after selling 5,210 shares during the period. Janney Montgomery Scott LLC’s holdings in Tandem Diabetes Care were worth $1,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC increased its holdings in Tandem Diabetes Care by 12.2% in the third quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock valued at $54,051,000 after buying an additional 138,263 shares in the last quarter. abrdn plc purchased a new position in Tandem Diabetes Care in the third quarter valued at $6,126,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Tandem Diabetes Care by 54.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,648 shares of the medical device company’s stock valued at $2,575,000 after buying an additional 21,282 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Tandem Diabetes Care by 21.2% in the third quarter. Assenagon Asset Management S.A. now owns 377,565 shares of the medical device company’s stock valued at $16,013,000 after buying an additional 66,138 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Tandem Diabetes Care by 4,141.2% in the third quarter. International Assets Investment Management LLC now owns 6,998 shares of the medical device company’s stock valued at $297,000 after buying an additional 6,833 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TNDM shares. Canaccord Genuity Group dropped their target price on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Barclays lifted their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group assumed coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price target on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $55.00 price target (up from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $27.34 on Friday. The firm has a 50-day moving average price of $37.46 and a 200 day moving average price of $41.60. The firm has a market capitalization of $1.80 billion, a PE ratio of -14.17 and a beta of 1.36. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 52-week low of $17.33 and a 52-week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. 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 $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. During the same period in the prior year, the company earned ($0.38) EPS. Tandem Diabetes Care’s revenue was up 31.4% on a year-over-year basis. On average, sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Tandem Diabetes Care Company 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.