Principal Financial Group Inc. Grows Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Principal Financial Group Inc. increased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 399,450 shares of the medical device company’s stock after purchasing an additional 11,103 shares during the quarter. Principal Financial Group Inc. owned approximately 0.60% of Tandem Diabetes Care worth $7,653,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Tandem Diabetes Care by 22.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company’s stock worth $236,000 after buying an additional 1,184 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Tandem Diabetes Care by 17.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 72,752 shares of the medical device company’s stock valued at $1,394,000 after purchasing an additional 11,048 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Tandem Diabetes Care by 27.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company’s stock valued at $737,000 after buying an additional 8,210 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tandem Diabetes Care by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after purchasing an additional 77,451 shares during the period. Finally, GAMMA Investing LLC raised its position in Tandem Diabetes Care by 763.3% in the first quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company’s stock valued at $808,000 after purchasing an additional 37,303 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TNDM shares. Mizuho initiated coverage on Tandem Diabetes Care in a report on Thursday, April 10th. They set a “neutral” rating and a $20.00 target price on the stock. Wall Street Zen downgraded Tandem Diabetes Care from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Canaccord Genuity Group increased their price objective on Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Stifel Nicolaus reduced their price objective on Tandem Diabetes Care from $60.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Robert W. Baird cut their price objective on Tandem Diabetes Care from $33.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.71.

Tandem Diabetes Care Stock Down 3.5%

Shares of TNDM stock opened at $15.20 on Wednesday. The company has a debt-to-equity ratio of 1.99, a current ratio of 2.30 and a quick ratio of 1.81. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -5.47 and a beta of 1.48. The company’s fifty day moving average price is $20.06 and its 200-day moving average price is $24.10. Tandem Diabetes Care, Inc. has a one year low of $14.87 and a one year high of $48.24.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative return on equity of 57.33% and a negative net margin of 18.71%. The business had revenue of $234.42 million during the quarter, compared to analysts’ expectations of $220.19 million. During the same period in the previous year, the business earned ($0.65) earnings per share. The business’s quarterly revenue was up 22.3% on a year-over-year basis. Sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

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.