Bank of America Corp DE Sells 127,904 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Bank of America Corp DE cut its holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 28.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 317,706 shares of the medical device company’s stock after selling 127,904 shares during the quarter. Bank of America Corp DE owned about 0.48% of Tandem Diabetes Care worth $11,444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TNDM. Beaconlight Capital LLC boosted its position in Tandem Diabetes Care by 53.6% during the 4th quarter. Beaconlight Capital LLC now owns 331,209 shares of the medical device company’s stock worth $11,930,000 after acquiring an additional 115,594 shares during the last quarter. Algert Global LLC raised its stake in Tandem Diabetes Care by 141.3% in the 4th quarter. Algert Global LLC now owns 89,536 shares of the medical device company’s stock valued at $3,225,000 after acquiring an additional 52,423 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in Tandem Diabetes Care by 14.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock valued at $98,108,000 after acquiring an additional 337,026 shares during the period. 4D Advisors LLC bought a new position in Tandem Diabetes Care during the 4th quarter worth $7,204,000. Finally, Freestone Grove Partners LP bought a new position in Tandem Diabetes Care during the 4th quarter worth $6,524,000.

Wall Street Analysts Forecast Growth

TNDM has been the topic of several analyst reports. The Goldman Sachs Group reduced their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Mizuho initiated coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They set a “neutral” rating and a $20.00 price target on the stock. Piper Sandler cut their price target on Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada lowered their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Robert W. Baird lowered their price objective on Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.47.

Tandem Diabetes Care Trading Down 4.7%

Shares of Tandem Diabetes Care stock opened at $20.64 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care, Inc. has a 52 week low of $15.75 and a 52 week high of $53.69. The stock has a 50 day moving average price of $19.38 and a two-hundred day moving average price of $27.60. The stock has a market capitalization of $1.37 billion, a PE ratio of -10.69 and a beta of 1.47.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The company had revenue of $234.42 million for the quarter, compared to analysts’ expectations of $220.19 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.65) EPS. As a group, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos acquired 10,538 shares of the business’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the transaction, the chief operating officer now owns 10,538 shares in the company, valued at approximately $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

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.