Tandem Diabetes Care, Inc. $TNDM Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 75.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,171 shares of the medical device company’s stock after selling 87,405 shares during the period. Truist Financial Corp’s holdings in Tandem Diabetes Care were worth $619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Tandem Diabetes Care by 200.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after purchasing an additional 1,470 shares during the period. Quarry LP boosted its holdings in Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after purchasing an additional 3,558 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in Tandem Diabetes Care by 485.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 5,149 shares of the medical device company’s stock worth $63,000 after purchasing an additional 4,269 shares during the period. Farther Finance Advisors LLC boosted its holdings in Tandem Diabetes Care by 36.6% in the fourth quarter. Farther Finance Advisors LLC now owns 3,600 shares of the medical device company’s stock worth $79,000 after purchasing an additional 965 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Tandem Diabetes Care in the third quarter worth $97,000.

Wall Street Analyst Weigh In

TNDM has been the subject of a number of research reports. TD Cowen reaffirmed a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of Tandem Diabetes Care in a report on Monday, April 20th. UBS Group reissued a “neutral” rating and set a $22.00 price target (up from $17.00) on shares of Tandem Diabetes Care in a report on Friday, February 20th. Mizuho set a $24.00 price target on shares of Tandem Diabetes Care in a report on Friday, May 8th. Barclays set a $55.00 price target on shares of Tandem Diabetes Care and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Zacks Research raised shares of Tandem Diabetes Care from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.63.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $13.53 on Tuesday. Tandem Diabetes Care, Inc. has a 1 year low of $9.98 and a 1 year high of $29.65. The company has a market cap of $927.20 million, a price-to-earnings ratio of -9.66 and a beta of 1.64. The company has a debt-to-equity ratio of 4.54, a quick ratio of 3.07 and a current ratio of 3.58. The firm has a fifty day moving average of $19.87 and a 200-day moving average of $20.29.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The company had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. During the same quarter in the previous year, the company posted ($0.66) earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -0.79 earnings per share for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.