Amalgamated Bank Sells 457 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Amalgamated Bank cut its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.3% in the third quarter, Holdings Channel.com reports. The firm owned 19,292 shares of the medical device company’s stock after selling 457 shares during the period. Amalgamated Bank’s holdings in Tandem Diabetes Care were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fred Alger Management LLC raised its position in shares of Tandem Diabetes Care by 45.2% during the second quarter. Fred Alger Management LLC now owns 2,174,107 shares of the medical device company’s stock valued at $87,595,000 after buying an additional 677,036 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Tandem Diabetes Care by 2,836.2% in the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock worth $16,252,000 after acquiring an additional 389,632 shares during the period. Kingdon Capital Management L.L.C. grew its holdings in shares of Tandem Diabetes Care by 153.9% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 493,080 shares of the medical device company’s stock worth $17,460,000 after purchasing an additional 298,880 shares in the last quarter. First Light Asset Management LLC increased its position in shares of Tandem Diabetes Care by 49.1% during the second quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock valued at $28,545,000 after purchasing an additional 233,405 shares during the period. Finally, Brown Capital Management LLC raised its stake in shares of Tandem Diabetes Care by 29.9% in the first quarter. Brown Capital Management LLC now owns 954,567 shares of the medical device company’s stock valued at $33,801,000 after purchasing an additional 219,940 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on TNDM. Wells Fargo & Company lifted their price target on shares of Tandem Diabetes Care from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Canaccord Genuity Group decreased their target price on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Robert W. Baird dropped their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a report on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective on the stock. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $45.00 price objective on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Five 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 currently has a consensus rating of “Moderate Buy” and an average target price of $54.25.

Tandem Diabetes Care Stock Down 3.6 %

NASDAQ:TNDM opened at $28.59 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -14.93 and a beta of 1.36. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The stock’s fifty day moving average price is $38.05 and its two-hundred day moving average price is $41.76. Tandem Diabetes Care, Inc. has a 52-week low of $17.33 and a 52-week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last released its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.08. The firm had revenue of $243.97 million for the quarter, compared to analyst estimates 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 in the prior year, the firm posted ($0.38) earnings per share. On average, analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current 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.