Thrivent Financial for Lutherans Cuts Stock Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Thrivent Financial for Lutherans lowered its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,619 shares of the medical device company’s stock after selling 2,952 shares during the period. Thrivent Financial for Lutherans’ holdings in Tandem Diabetes Care were worth $2,160,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TNDM. Vanguard Group Inc. grew its position in Tandem Diabetes Care by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock worth $249,732,000 after acquiring an additional 30,664 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Tandem Diabetes Care by 98.1% in the first quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after buying an additional 1,265,534 shares during the period. Bellevue Group AG increased its stake in shares of Tandem Diabetes Care by 2.0% in the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock worth $71,949,000 after buying an additional 39,571 shares during the period. Brown Capital Management LLC boosted its position in Tandem Diabetes Care by 29.9% during the 1st quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock valued at $33,801,000 after buying an additional 219,940 shares during the period. Finally, Chicago Capital LLC grew its holdings in Tandem Diabetes Care by 22.3% in the 2nd quarter. Chicago Capital LLC now owns 821,062 shares of the medical device company’s stock worth $33,081,000 after acquiring an additional 149,757 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on TNDM. Morgan Stanley reaffirmed an “equal weight” rating and set a $45.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price target (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Robert W. Baird upped their target price on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Barclays lifted their price target on shares of Tandem Diabetes Care from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Moderate Buy” and an average target price of $54.36.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $41.07 on Wednesday. The company has a 50 day simple moving average of $42.16 and a two-hundred day simple moving average of $41.37. Tandem Diabetes Care, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $53.69. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -18.93 and a beta of 1.32. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.07. The company had revenue of $221.90 million during the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.30) EPS. Analysts expect that Tandem Diabetes Care, Inc. will post -1.76 EPS 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.