Beacon Investment Advisory Services Inc. Has $1.38 Million Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Beacon Investment Advisory Services Inc. lowered its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.9% during the third quarter, HoldingsChannel.com reports. The firm owned 32,610 shares of the medical device company’s stock after selling 970 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Tandem Diabetes Care were worth $1,383,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $28,000. Assetmark Inc. acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $29,000. ORG Wealth Partners LLC acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $30,000. ORG Partners LLC acquired a new position in shares of Tandem Diabetes Care in the 2nd quarter valued at $31,000. Finally, Waldron Private Wealth LLC acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $50,000.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of analyst reports. Robert W. Baird cut their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Barclays raised their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Royal Bank of Canada began coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price objective on the stock. 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. Finally, Sanford C. Bernstein began coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.25.

Tandem Diabetes Care Price Performance

TNDM stock opened at $32.51 on Tuesday. The stock has a 50-day moving average price of $34.62 and a two-hundred day moving average price of $40.64. The stock has a market cap of $2.14 billion, a PE ratio of -16.84 and a beta of 1.33. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 1 year low of $20.52 and a 1 year high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data 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 company had revenue of $243.97 million during the quarter, compared to analysts’ expectations of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. Tandem Diabetes Care’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) EPS. Equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insider Activity

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was 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 in the company, valued at $5,855,700. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.

About Tandem Diabetes Care

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.