Thrivent Financial for Lutherans Trims Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Thrivent Financial for Lutherans lowered its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,409 shares of the medical device company’s stock after selling 2,210 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Tandem Diabetes Care worth $2,180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Assetmark Inc. bought a new position in Tandem Diabetes Care in the 3rd quarter valued at approximately $29,000. ORG Wealth Partners LLC bought a new position in Tandem Diabetes Care in the 3rd quarter worth $30,000. ORG Partners LLC purchased a new stake in Tandem Diabetes Care in the 2nd quarter worth $31,000. Waldron Private Wealth LLC purchased a new stake in Tandem Diabetes Care in the 3rd quarter worth $50,000. Finally, Headlands Technologies LLC grew its position in shares of Tandem Diabetes Care by 110.0% during the second quarter. Headlands Technologies LLC now owns 2,060 shares of the medical device company’s stock valued at $83,000 after purchasing an additional 1,079 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They set a “neutral” rating and a $46.00 price objective for the company. Royal Bank of Canada assumed coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird decreased their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, UBS Group upgraded shares of Tandem Diabetes Care to a “hold” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Trading Up 3.9 %

Tandem Diabetes Care stock opened at $31.22 on Thursday. Tandem Diabetes Care, Inc. has a 12 month low of $18.45 and a 12 month high of $53.69. The firm has a market cap of $2.05 billion, a PE ratio of -16.18 and a beta of 1.36. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock’s 50 day simple moving average is $35.65 and its two-hundred day simple moving average is $41.04.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data 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 return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same quarter last year, the firm posted ($0.38) EPS. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. Analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current year.

Insider Buying and Selling

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of Tandem Diabetes Care stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.20% of the company’s stock.

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.