Wedbush Securities Inc. cut its position in Tandem Diabetes Care Inc (NASDAQ:TNDM) by 44.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,074 shares of the medical device company’s stock after selling 10,253 shares during the quarter. Wedbush Securities Inc.’s holdings in Tandem Diabetes Care were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of TNDM. US Bancorp DE increased its holdings in shares of Tandem Diabetes Care by 397.8% during the third quarter. US Bancorp DE now owns 2,489 shares of the medical device company’s stock valued at $107,000 after acquiring an additional 1,989 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Tandem Diabetes Care during the third quarter valued at about $109,000. Meeder Asset Management Inc. increased its holdings in shares of Tandem Diabetes Care by 1,921.6% during the third quarter. Meeder Asset Management Inc. now owns 2,709 shares of the medical device company’s stock valued at $116,000 after acquiring an additional 2,575 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Tandem Diabetes Care during the third quarter valued at about $174,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Tandem Diabetes Care during the third quarter valued at about $203,000. Hedge funds and other institutional investors own 71.60% of the company’s stock.

Shares of NASDAQ TNDM opened at $33.49 on Friday. The company has a market capitalization of $2.01 billion, a P/E ratio of -2.60 and a beta of 0.52. Tandem Diabetes Care Inc has a 52 week low of $2.14 and a 52 week high of $52.55.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, November 1st. The medical device company reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.28). The firm had revenue of $46.30 million during the quarter, compared to analysts’ expectations of $42.71 million. Tandem Diabetes Care had a negative net margin of 93.07% and a negative return on equity of 204.32%. Tandem Diabetes Care’s quarterly revenue was up 71.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.09) EPS. As a group, equities analysts expect that Tandem Diabetes Care Inc will post -1.31 EPS for the current year.

In related news, CEO Kim D. Blickenstaff sold 198,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $37.01, for a total value of $7,327,980.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard P. Valencia bought 1,300 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average price of $37.75 per share, for a total transaction of $49,075.00. The disclosure for this purchase can be found here. 9.30% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on TNDM shares. Zacks Investment Research upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Lake Street Capital upped their price objective on shares of Tandem Diabetes Care from $35.00 to $65.00 and gave the company a “buy” rating in a report on Monday, August 20th. Stifel Nicolaus started coverage on shares of Tandem Diabetes Care in a report on Wednesday, August 22nd. They set a “hold” rating and a $34.00 price objective on the stock. BidaskClub upgraded shares of Tandem Diabetes Care from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 23rd. Finally, Bank of America upgraded shares of Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and set a $45.00 price objective on the stock in a report on Friday, August 24th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $44.75.

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Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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