SG Americas Securities LLC Cuts Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

SG Americas Securities LLC decreased its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 88.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,989 shares of the medical device company’s stock after selling 68,658 shares during the period. SG Americas Securities LLC’s holdings in Tandem Diabetes Care were worth $381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TNDM. GAMMA Investing LLC boosted its stake in shares of Tandem Diabetes Care by 11.2% during the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock valued at $172,000 after acquiring an additional 431 shares during the last quarter. MN Wealth Advisors LLC boosted its position in Tandem Diabetes Care by 3.1% during the second quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock worth $593,000 after acquiring an additional 440 shares during the last quarter. MCF Advisors LLC grew its stake in Tandem Diabetes Care by 79.3% in the 1st quarter. MCF Advisors LLC now owns 1,006 shares of the medical device company’s stock worth $36,000 after acquiring an additional 445 shares during the period. Signaturefd LLC raised its holdings in Tandem Diabetes Care by 29.2% in the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 522 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tandem Diabetes Care by 4.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock worth $603,000 after purchasing an additional 592 shares during the period.

Analyst Ratings Changes

Several research firms have recently issued reports on TNDM. The Goldman Sachs Group started coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective for the company. Morgan Stanley restated an “equal weight” rating and issued a $45.00 price target on shares of Tandem Diabetes Care in a report on Monday, September 23rd. Wells Fargo & Company increased their price objective on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Piper Sandler restated an “overweight” rating and issued a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a report on Friday, August 2nd. Finally, Canaccord Genuity Group started 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 for the company. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tandem Diabetes Care has an average rating of “Moderate Buy” and a consensus target price of $55.13.

Tandem Diabetes Care Stock Up 1.5 %

Shares of NASDAQ TNDM opened at $35.34 on Friday. The stock has a fifty day moving average price of $41.98 and a 200 day moving average price of $41.85. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. Tandem Diabetes Care, Inc. has a 12-month low of $13.82 and a 12-month high of $53.69. The company has a market cap of $2.31 billion, a P/E ratio of -16.91 and a beta of 1.33.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.07. The company had revenue of $221.90 million during the quarter, compared to the consensus estimate of $205.63 million. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) earnings per share. Research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current fiscal year.

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.