Maryland State Retirement & Pension System cut its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM – Free Report) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,977 shares of the medical device company’s stock after selling 717 shares during the period. Maryland State Retirement & Pension System’s holdings in Tandem Diabetes Care were worth $736,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC boosted its position in shares of Tandem Diabetes Care by 27.5% in the 2nd quarter. SG Americas Securities LLC now owns 13,759 shares of the medical device company’s stock valued at $338,000 after purchasing an additional 2,968 shares during the period. Ameriprise Financial Inc. grew its position in Tandem Diabetes Care by 33.2% in the first quarter. Ameriprise Financial Inc. now owns 287,487 shares of the medical device company’s stock valued at $11,667,000 after acquiring an additional 71,579 shares during the period. Thrivent Financial for Lutherans raised its position in Tandem Diabetes Care by 272.0% in the 1st quarter. Thrivent Financial for Lutherans now owns 63,721 shares of the medical device company’s stock valued at $2,588,000 after purchasing an additional 46,594 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Tandem Diabetes Care by 8.5% during the first quarter. Mercer Global Advisors Inc. ADV now owns 15,485 shares of the medical device company’s stock worth $629,000 after acquiring an additional 1,219 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Tandem Diabetes Care by 16.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 163,604 shares of the medical device company’s stock worth $6,644,000 after purchasing an additional 22,936 shares during the last quarter.
Tandem Diabetes Care Trading Down 6.1 %
Shares of TNDM stock opened at $19.33 on Tuesday. Tandem Diabetes Care, Inc. has a fifty-two week low of $19.23 and a fifty-two week high of $58.82. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.53 and a current ratio of 4.38. The stock has a 50 day simple moving average of $28.11 and a two-hundred day simple moving average of $31.30. The company has a market cap of $1.26 billion, a P/E ratio of -5.55 and a beta of 0.87.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. StockNews.com started coverage on shares of Tandem Diabetes Care in a research note on Thursday, August 17th. They set a “hold” rating for the company. Barclays reduced their target price on Tandem Diabetes Care from $71.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Robert W. Baird dropped their price objective on shares of Tandem Diabetes Care from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, August 21st. TD Cowen dropped their target price on Tandem Diabetes Care from $52.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Finally, Wells Fargo & Company reduced their price target on Tandem Diabetes Care from $40.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Tandem Diabetes Care presently has a consensus rating of “Hold” and a consensus price target of $46.80.
View Our Latest Analysis on Tandem Diabetes Care
Tandem Diabetes Care Company 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 and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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