UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 5,546 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,606 shares of the medical device company’s stock after selling 5,546 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Tandem Diabetes Care worth $6,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fred Alger Management LLC boosted its position in shares of Tandem Diabetes Care by 45.2% in the 2nd quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock worth $87,595,000 after purchasing an additional 677,036 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Tandem Diabetes Care by 2,836.2% during the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after buying an additional 389,632 shares during the last quarter. First Light Asset Management LLC raised its stake in shares of Tandem Diabetes Care by 49.1% during the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after buying an additional 233,405 shares during the last quarter. Chicago Capital LLC raised its stake in shares of Tandem Diabetes Care by 22.2% during the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock valued at $42,543,000 after buying an additional 182,085 shares during the last quarter. Finally, abrdn plc purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at about $6,126,000.

Tandem Diabetes Care Stock Up 5.3 %

Shares of NASDAQ:TNDM opened at $33.81 on Wednesday. The stock has a market cap of $2.22 billion, a P/E ratio of -17.52 and a beta of 1.33. The firm has a fifty day moving average price of $33.25 and a 200 day moving average price of $39.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. Tandem Diabetes Care, Inc. has a 1-year low of $21.85 and a 1-year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $224.14 million. During the same quarter last year, the business earned ($0.38) EPS. The business’s revenue was up 31.4% on a year-over-year basis. Sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Insider Activity

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

Analyst Ratings Changes

Several brokerages recently weighed in on TNDM. Canaccord Genuity Group lowered their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays boosted their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective on the stock. Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a report on Monday, December 2nd. Finally, Sanford C. Bernstein assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average price target of $54.25.

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.