Bank Pictet & Cie Europe AG Cuts Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Bank Pictet & Cie Europe AG decreased its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 44.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,772 shares of the medical device company’s stock after selling 4,644 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Tandem Diabetes Care were worth $245,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Jennison Associates LLC boosted its holdings in Tandem Diabetes Care by 98.1% in the 1st quarter. Jennison Associates LLC now owns 2,556,124 shares of the medical device company’s stock worth $90,512,000 after acquiring an additional 1,265,534 shares during the period. Fred Alger Management LLC boosted its stake in shares of Tandem Diabetes Care by 45.2% in 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 purchasing an additional 677,036 shares during the period. Victory Capital Management Inc. grew its holdings in Tandem Diabetes Care by 2,836.2% during the 2nd quarter. Victory Capital Management Inc. now owns 403,370 shares of the medical device company’s stock valued at $16,252,000 after purchasing an additional 389,632 shares in the last quarter. Kingdon Capital Management L.L.C. increased its stake in 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 buying an additional 298,880 shares during the period. Finally, First Light Asset Management LLC lifted its holdings in Tandem Diabetes Care by 49.1% in the 2nd quarter. First Light Asset Management LLC now owns 708,482 shares of the medical device company’s stock worth $28,545,000 after buying an additional 233,405 shares in the last quarter.

Tandem Diabetes Care Stock Down 1.7 %

Shares of Tandem Diabetes Care stock opened at $33.54 on Wednesday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -16.05 and a beta of 1.33. Tandem Diabetes Care, Inc. has a twelve month low of $13.82 and a twelve month high of $53.69. The company has a current ratio of 3.05, a quick ratio of 2.38 and a debt-to-equity ratio of 1.31. The business’s 50 day simple moving average is $41.71 and its 200-day simple moving average is $41.97.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.07. The company had revenue of $221.90 million for the quarter, compared to analyst estimates of $205.63 million. Tandem Diabetes Care had a negative net margin of 17.15% and a negative return on equity of 41.54%. Tandem Diabetes Care’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) earnings per share. Equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TNDM. Wells Fargo & Company raised their target price on Tandem Diabetes Care from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird raised their price objective on Tandem Diabetes Care from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. UBS Group raised Tandem Diabetes Care to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group initiated coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They set a “buy” rating and a $57.00 target price for the company. Finally, The Goldman Sachs Group started coverage on shares of Tandem Diabetes Care in a research note on Friday, October 4th. They issued a “neutral” rating and a $46.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.13.

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.