Principal Financial Group Inc. Sells 68,525 Shares of Tandem Diabetes Care, Inc. $TNDM

Principal Financial Group Inc. decreased its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 17.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 326,701 shares of the medical device company’s stock after selling 68,525 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Tandem Diabetes Care worth $3,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its stake in shares of Tandem Diabetes Care by 31.9% in the 3rd quarter. AlphaQuest LLC now owns 22,910 shares of the medical device company’s stock valued at $278,000 after acquiring an additional 5,539 shares during the last quarter. Sector Gamma AS increased its stake in Tandem Diabetes Care by 28.0% in the third quarter. Sector Gamma AS now owns 269,542 shares of the medical device company’s stock valued at $3,272,000 after purchasing an additional 59,019 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Tandem Diabetes Care in the third quarter valued at approximately $691,000. Olympiad Research LP bought a new position in shares of Tandem Diabetes Care during the third quarter worth $202,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Tandem Diabetes Care in the 3rd quarter valued at $183,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TNDM shares. Mizuho raised their price objective on Tandem Diabetes Care from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. Robert W. Baird set a $30.00 price target on Tandem Diabetes Care and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Morgan Stanley set a $23.00 price objective on Tandem Diabetes Care and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Tandem Diabetes Care in a research note on Wednesday, December 17th. Finally, TD Cowen started coverage on shares of Tandem Diabetes Care in a report on Tuesday, January 27th. They set a “buy” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.35.

Tandem Diabetes Care Trading Up 1.4%

Shares of NASDAQ:TNDM opened at $18.95 on Monday. The company’s 50-day moving average price is $21.02 and its two-hundred day moving average price is $16.87. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $35.12. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.44 and a quick ratio of 1.90. The stock has a market capitalization of $1.28 billion, a PE ratio of -6.21 and a beta of 1.68.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.