Beacon Investment Advisory Services Inc. Sells 13,705 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Beacon Investment Advisory Services Inc. decreased its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 42.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,905 shares of the medical device company’s stock after selling 13,705 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Tandem Diabetes Care were worth $681,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TNDM. State Street Corp boosted its position in Tandem Diabetes Care by 3.2% in the third quarter. State Street Corp now owns 2,655,736 shares of the medical device company’s stock valued at $112,630,000 after buying an additional 83,172 shares in the last quarter. Bellevue Group AG raised its stake in shares of Tandem Diabetes Care by 19.9% in the third quarter. Bellevue Group AG now owns 1,850,891 shares of the medical device company’s stock valued at $78,496,000 after acquiring an additional 307,624 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tandem Diabetes Care by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,525,816 shares of the medical device company’s stock valued at $64,722,000 after acquiring an additional 18,187 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Tandem Diabetes Care by 12.2% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,274,482 shares of the medical device company’s stock worth $54,051,000 after acquiring an additional 138,263 shares in the last quarter. Finally, Chicago Capital LLC grew its position in Tandem Diabetes Care by 22.2% during the 3rd quarter. Chicago Capital LLC now owns 1,003,147 shares of the medical device company’s stock worth $42,543,000 after acquiring an additional 182,085 shares during the last quarter.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $35.49 on Friday. The business has a fifty day simple moving average of $33.83 and a 200 day simple moving average of $37.84. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 12 month low of $21.85 and a 12 month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.08. The company had revenue of $243.97 million during 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 revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.38) EPS. Sell-side analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TNDM shares. Sanford C. Bernstein assumed coverage on Tandem Diabetes Care in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price objective for the company. Canaccord Genuity Group cut their price target on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Barclays increased their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Citigroup dropped their target price on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They set a “neutral” rating and a $46.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.81.

Insider Buying and Selling at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction on 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. The trade was a 4.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Tandem Diabetes Care 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.