Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Holdings Cut by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lowered its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 42.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,905 shares of the medical device company’s stock after selling 13,705 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Tandem Diabetes Care were worth $681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Brooklyn Investment Group bought a new position in Tandem Diabetes Care during the third quarter valued at approximately $28,000. Assetmark Inc. acquired a new position in shares of Tandem Diabetes Care during the 3rd quarter worth $29,000. ORG Wealth Partners LLC bought a new position in shares of Tandem Diabetes Care during the 3rd quarter valued at $30,000. Waldron Private Wealth LLC acquired a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at $50,000. Finally, McIlrath & Eck LLC bought a new stake in Tandem Diabetes Care in the third quarter worth $52,000.

Insiders Place Their Bets

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the director now owns 195,190 shares of the company’s stock, valued at $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on TNDM shares. Canaccord Genuity Group cut their target price on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research note on Monday, December 2nd. Barclays upped their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group initiated coverage on Tandem Diabetes Care in a report on Friday, October 4th. They set a “neutral” rating and a $46.00 price target on the stock. Finally, Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.81.

Tandem Diabetes Care Stock Performance

NASDAQ TNDM opened at $35.49 on Friday. Tandem Diabetes Care, Inc. has a twelve month low of $21.85 and a twelve month high of $53.69. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The firm has a 50-day simple moving average of $33.83 and a 200 day simple moving average of $37.84.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million during the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.38) EPS. As a group, research analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 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.