Bank Pictet & Cie Europe AG Has $420,000 Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Bank Pictet & Cie Europe AG trimmed its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 34.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,416 shares of the medical device company’s stock after selling 5,498 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Tandem Diabetes Care were worth $420,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TNDM. International Assets Investment Management LLC grew its holdings in shares of Tandem Diabetes Care by 2,858.2% during the fourth quarter. International Assets Investment Management LLC now owns 4,881 shares of the medical device company’s stock valued at $144,000 after buying an additional 4,716 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Tandem Diabetes Care in the 4th quarter valued at about $964,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tandem Diabetes Care by 10.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,909 shares of the medical device company’s stock worth $441,000 after purchasing an additional 1,403 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Tandem Diabetes Care by 871.8% during the fourth quarter. Signaturefd LLC now owns 1,691 shares of the medical device company’s stock worth $50,000 after purchasing an additional 1,517 shares during the period. Finally, Handelsbanken Fonder AB grew its position in Tandem Diabetes Care by 38.3% during the fourth quarter. Handelsbanken Fonder AB now owns 14,800 shares of the medical device company’s stock valued at $438,000 after purchasing an additional 4,100 shares in the last quarter.

Wall Street Analyst Weigh In

TNDM has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on shares of Tandem Diabetes Care from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Lake Street Capital boosted their target price on Tandem Diabetes Care from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Robert W. Baird raised their price target on Tandem Diabetes Care from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and issued a $55.00 price target (up previously from $50.00) on shares of Tandem Diabetes Care in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group initiated coverage on shares of Tandem Diabetes Care in a research report on Thursday, August 8th. They set a “buy” rating and a $57.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.36.

Insiders Place Their Bets

In related news, Director Dick Allen sold 5,000 shares of Tandem Diabetes Care stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.68, for a total transaction of $258,400.00. Following the sale, the director now directly owns 24,396 shares of the company’s stock, valued at $1,260,785.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock traded up $2.11 during trading on Friday, reaching $44.60. The company’s stock had a trading volume of 882,661 shares, compared to its average volume of 1,711,015. Tandem Diabetes Care, Inc. has a one year low of $13.82 and a one year high of $53.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.38 and a current ratio of 3.05. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -20.55 and a beta of 1.28. The business’s fifty day moving average price is $41.67 and its 200-day moving average price is $38.19.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. Tandem Diabetes Care had a negative return on equity of 41.54% and a negative net margin of 17.15%. The company had revenue of $221.90 million during the quarter, compared to analyst estimates of $205.63 million. During the same period in the previous year, the company earned ($0.30) earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Tandem Diabetes Care, Inc. will post -1.76 earnings per share for the current year.

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.