Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 12.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 515,545 shares of the medical device company’s stock after selling 75,035 shares during the quarter. Bank of New York Mellon Corp owned 0.80% of Tandem Diabetes Care worth $12,651,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TNDM. JPMorgan Chase & Co. lifted its holdings in Tandem Diabetes Care by 40.5% in the first quarter. JPMorgan Chase & Co. now owns 133,397 shares of the medical device company’s stock valued at $15,512,000 after acquiring an additional 38,460 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Tandem Diabetes Care by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 6,246 shares of the medical device company’s stock valued at $726,000 after buying an additional 164 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Tandem Diabetes Care by 7.5% in the first quarter. Great West Life Assurance Co. Can now owns 34,482 shares of the medical device company’s stock valued at $4,122,000 after buying an additional 2,402 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tandem Diabetes Care by 68.5% in the first quarter. Dimensional Fund Advisors LP now owns 185,408 shares of the medical device company’s stock valued at $21,561,000 after buying an additional 75,358 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Tandem Diabetes Care by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 5,616 shares of the medical device company’s stock valued at $654,000 after buying an additional 184 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TNDM shares. Robert W. Baird dropped their price target on Tandem Diabetes Care from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, August 21st. TD Cowen dropped their price objective 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. StockNews.com started coverage on Tandem Diabetes Care in a research report on Thursday, October 5th. They set a “hold” rating for the company. Piper Sandler dropped their price objective on Tandem Diabetes Care from $40.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Finally, Barclays dropped their price objective on Tandem Diabetes Care from $71.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Tandem Diabetes Care has an average rating of “Hold” and an average target price of $38.50.

Insider Activity

In other news, insider Shannon Marie Hansen acquired 1,935 shares of Tandem Diabetes Care stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average cost of $15.44 per share, with a total value of $29,876.40. Following the purchase, the insider now directly owns 1,935 shares of the company’s stock, valued at approximately $29,876.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Shannon Marie Hansen acquired 1,935 shares of Tandem Diabetes Care stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average cost of $15.44 per share, with a total value of $29,876.40. Following the purchase, the insider now directly owns 1,935 shares of the company’s stock, valued at approximately $29,876.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Leigh Vosseller acquired 6,200 shares of Tandem Diabetes Care stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average cost of $15.39 per share, for a total transaction of $95,418.00. Following the completion of the purchase, the chief financial officer now directly owns 11,860 shares in the company, valued at $182,525.40. The disclosure for this purchase can be found here. Insiders have bought 9,135 shares of company stock valued at $146,744 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Tandem Diabetes Care Stock Up 2.2 %

TNDM opened at $18.21 on Thursday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -5.64 and a beta of 0.93. Tandem Diabetes Care, Inc. has a 12 month low of $13.82 and a 12 month high of $47.17. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.05 and a quick ratio of 3.28. The business has a 50-day moving average of $19.49 and a two-hundred day moving average of $25.66.

Tandem Diabetes Care 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.