Algert Global LLC Sells 8,150 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Algert Global LLC lessened its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 18.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,113 shares of the medical device company’s stock after selling 8,150 shares during the period. Algert Global LLC owned about 0.06% of Tandem Diabetes Care worth $1,574,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. bought a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at about $29,000. ORG Wealth Partners LLC bought a new position in Tandem Diabetes Care during the 3rd quarter valued at approximately $30,000. ORG Partners LLC bought a new position in Tandem Diabetes Care during the 2nd quarter valued at approximately $31,000. Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care during the 3rd quarter valued at approximately $50,000. Finally, Headlands Technologies LLC raised its position in Tandem Diabetes Care by 110.0% during the 2nd quarter. Headlands Technologies LLC now owns 2,060 shares of the medical device company’s stock valued at $83,000 after purchasing an additional 1,079 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on TNDM shares. Royal Bank of Canada started coverage on Tandem Diabetes Care in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price target for the company. Wells Fargo & Company upped their price target on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group lowered their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $55.00 target price (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a research report on Friday, October 4th. They issued a “neutral” rating and a $46.00 target price for the company. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care stock opened at $31.22 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $2.05 billion, a P/E ratio of -16.18 and a beta of 1.36. The stock’s 50 day moving average is $35.16 and its 200 day moving average is $40.90. Tandem Diabetes Care, Inc. has a twelve month low of $18.45 and a twelve month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. During the same period last year, the business posted ($0.38) EPS. The company’s revenue was up 31.4% compared to the same quarter last year. On average, equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.

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.