State of Alaska Department of Revenue Sells 564 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

State of Alaska Department of Revenue lessened its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 1.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 37,358 shares of the medical device company’s stock after selling 564 shares during the period. State of Alaska Department of Revenue’s holdings in Tandem Diabetes Care were worth $1,584,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new stake in Tandem Diabetes Care during the 3rd quarter worth $30,000. ORG Partners LLC acquired a new position in shares of Tandem Diabetes Care in the second quarter valued at approximately $31,000. Headlands Technologies LLC acquired a new position in shares of Tandem Diabetes Care in the first quarter valued at approximately $35,000. Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care in the 3rd quarter valued at approximately $50,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Tandem Diabetes Care during the 2nd quarter worth approximately $86,000.

Tandem Diabetes Care Trading Up 1.7 %

TNDM opened at $31.91 on Friday. The company has a fifty day moving average price of $39.89 and a two-hundred day moving average price of $41.77. Tandem Diabetes Care, Inc. has a 1-year low of $13.82 and a 1-year high of $53.69. The company has a market cap of $2.09 billion, a P/E ratio of -15.27 and a beta of 1.36. 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 (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The business had revenue of $221.90 million for the quarter, compared to the consensus estimate of $205.63 million. During the same period in the prior year, the business earned ($0.30) EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts predict that Tandem Diabetes Care, Inc. will post -1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group began coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 price target for the company. The Goldman Sachs Group started coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They set a “neutral” rating and a $46.00 target price for the company. Royal Bank of Canada initiated coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price target on the stock. UBS Group upgraded Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company upped their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. 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 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.