SG Americas Securities LLC Sells 5,483 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

SG Americas Securities LLC trimmed its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 61.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,506 shares of the medical device company’s stock after selling 5,483 shares during the period. SG Americas Securities LLC’s holdings in Tandem Diabetes Care were worth $126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bellevue Group AG raised its stake in Tandem Diabetes Care by 19.9% in the 3rd quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after acquiring an additional 307,624 shares during the period. MetLife Investment Management LLC raised its stake in Tandem Diabetes Care by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 37,422 shares of the medical device company’s stock valued at $1,587,000 after acquiring an additional 21,086 shares during the period. JPMorgan Chase & Co. raised its stake in Tandem Diabetes Care by 134.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,583 shares of the medical device company’s stock valued at $8,379,000 after acquiring an additional 113,355 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Tandem Diabetes Care by 368.5% during the third quarter. Oppenheimer & Co. Inc. now owns 26,125 shares of the medical device company’s stock valued at $1,108,000 after buying an additional 20,549 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Tandem Diabetes Care by 32.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,097 shares of the medical device company’s stock valued at $11,540,000 after buying an additional 66,687 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TNDM. Barclays upped their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Robert W. Baird decreased their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a research report on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target on the stock. Canaccord Genuity Group cut their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Citigroup cut their price objective on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.81.

Insider Buying and Selling at Tandem Diabetes Care

In other 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $33.52 on Wednesday. The stock has a fifty day moving average of $35.48 and a 200 day moving average of $37.09. Tandem Diabetes Care, Inc. has a 52 week low of $22.03 and a 52 week high of $53.69. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -17.37 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

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.