Raymond James Financial Services Advisors Inc. Reduces Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,845 shares of the medical device company’s stock after selling 1,950 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Tandem Diabetes Care were worth $469,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. RiverPark Advisors LLC acquired a new position in Tandem Diabetes Care in the fourth quarter worth about $27,000. State of Wyoming grew its stake in Tandem Diabetes Care by 45.8% in the fourth quarter. State of Wyoming now owns 821 shares of the medical device company’s stock worth $37,000 after purchasing an additional 258 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Tandem Diabetes Care by 51.7% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the medical device company’s stock worth $67,000 after purchasing an additional 1,099 shares in the last quarter. Stephens Inc. AR grew its stake in Tandem Diabetes Care by 17.6% in the first quarter. Stephens Inc. AR now owns 2,120 shares of the medical device company’s stock worth $86,000 after purchasing an additional 317 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in Tandem Diabetes Care in the fourth quarter worth about $89,000.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM opened at $30.43 on Friday. The company has a current ratio of 3.83, a quick ratio of 3.02 and a debt-to-equity ratio of 0.91. The stock has a 50 day simple moving average of $29.80 and a 200-day simple moving average of $24.80. The company has a market cap of $1.96 billion, a PE ratio of -8.85 and a beta of 1.12. Tandem Diabetes Care, Inc. has a 12-month low of $13.82 and a 12-month high of $40.92.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Wednesday, February 21st. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The business had revenue of $196.80 million for the quarter, compared to analyst estimates of $204.86 million. Tandem Diabetes Care had a negative return on equity of 31.48% and a negative net margin of 29.77%. On average, equities research analysts forecast that Tandem Diabetes Care, Inc. will post -1.62 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Friday. Citigroup lifted their target price on Tandem Diabetes Care from $31.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus upgraded Tandem Diabetes Care from a “hold” rating to a “buy” rating and lifted their target price for the company from $24.00 to $37.00 in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $37.00.

Tandem Diabetes Care Company 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.