Janney Montgomery Scott LLC Sells 5,210 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Janney Montgomery Scott LLC reduced its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 16.8% in the 3rd quarter, Holdings Channel reports. The firm owned 25,828 shares of the medical device company’s stock after selling 5,210 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Tandem Diabetes Care were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Tandem Diabetes Care during the first quarter valued at $540,000. Vanguard Group Inc. lifted its holdings in shares of Tandem Diabetes Care by 0.4% during the first quarter. Vanguard Group Inc. now owns 7,052,570 shares of the medical device company’s stock valued at $249,732,000 after acquiring an additional 30,664 shares during the period. abrdn plc bought a new position in shares of Tandem Diabetes Care during the third quarter valued at $6,126,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Tandem Diabetes Care by 310.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,980 shares of the medical device company’s stock valued at $1,450,000 after acquiring an additional 27,208 shares during the period. Finally, Bellevue Group AG lifted its holdings in shares of Tandem Diabetes Care by 2.0% during the first quarter. Bellevue Group AG now owns 2,031,888 shares of the medical device company’s stock valued at $71,949,000 after acquiring an additional 39,571 shares during the period.

Tandem Diabetes Care Stock Down 4.4 %

Shares of NASDAQ TNDM opened at $27.34 on Friday. Tandem Diabetes Care, Inc. has a one year low of $17.33 and a one year high of $53.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The business’s fifty day moving average price is $37.46 and its 200-day moving average price is $41.60. The stock has a market capitalization of $1.80 billion, a PE ratio of -14.17 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $243.97 million for the quarter, compared to analyst estimates of $224.14 million. During the same period in the previous year, the company posted ($0.38) EPS. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TNDM. Canaccord Genuity Group began coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a “buy” rating and a $57.00 target price for the company. Royal Bank of Canada began coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $65.00 target price for the company. Sanford C. Bernstein began coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 target price for the company. Piper Sandler restated an “overweight” rating and issued a $55.00 target price (up from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $45.00 target price on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.25.

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.