KBC Group NV Sells 189,826 Shares of Tandem Diabetes Care, Inc. $TNDM

KBC Group NV cut its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 99.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,011 shares of the medical device company’s stock after selling 189,826 shares during the period. KBC Group NV’s holdings in Tandem Diabetes Care were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. ArrowMark Colorado Holdings LLC grew its stake in shares of Tandem Diabetes Care by 36.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock valued at $44,811,000 after acquiring an additional 991,649 shares during the period. Paradice Investment Management LLC grew its stake in shares of Tandem Diabetes Care by 24.3% during the 3rd quarter. Paradice Investment Management LLC now owns 2,196,468 shares of the medical device company’s stock valued at $26,665,000 after acquiring an additional 429,289 shares during the period. Freestone Grove Partners LP bought a new position in shares of Tandem Diabetes Care during the 3rd quarter valued at approximately $22,706,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Tandem Diabetes Care by 3.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,481,953 shares of the medical device company’s stock valued at $17,991,000 after acquiring an additional 50,646 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Tandem Diabetes Care during the 4th quarter valued at approximately $26,988,000.

Tandem Diabetes Care Trading Up 3.7%

TNDM stock opened at $20.78 on Thursday. Tandem Diabetes Care, Inc. has a 1-year low of $9.98 and a 1-year high of $29.65. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.55 and a quick ratio of 2.02. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -6.77 and a beta of 1.74. The business has a 50 day simple moving average of $21.71 and a two-hundred day simple moving average of $20.01.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, February 19th. The medical device company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. Tandem Diabetes Care had a negative return on equity of 68.23% and a negative net margin of 20.17%.The business had revenue of $290.38 million during the quarter, compared to the consensus estimate of $277.14 million. During the same period in the prior year, the company posted $0.01 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Research analysts anticipate that Tandem Diabetes Care, Inc. will post -0.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Piper Sandler upgraded Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $21.00 to $33.00 in a research note on Tuesday, March 17th. Stifel Nicolaus boosted their price objective on Tandem Diabetes Care from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, February 20th. Sanford C. Bernstein reiterated a “market perform” rating and set a $25.00 price objective (up from $18.00) on shares of Tandem Diabetes Care in a research note on Friday, January 9th. Bank of America upgraded Tandem Diabetes Care from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $15.00 to $30.00 in a research note on Friday, February 20th. Finally, Truist Financial upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and boosted their price objective for the company from $27.00 to $35.00 in a research note on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.22.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.