KBC Group NV Boosts Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

KBC Group NV increased its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 41.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 192,479 shares of the medical device company’s stock after acquiring an additional 56,461 shares during the period. KBC Group NV’s holdings in Tandem Diabetes Care were worth $6,933,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Tandem Diabetes Care in the 3rd quarter worth about $28,000. Assetmark Inc. bought a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC purchased a new stake in Tandem Diabetes Care in the third quarter worth approximately $30,000. Waldron Private Wealth LLC bought a new position in Tandem Diabetes Care during the third quarter valued at approximately $50,000. Finally, McIlrath & Eck LLC bought a new position in Tandem Diabetes Care during the third quarter valued at approximately $52,000.

Tandem Diabetes Care Price Performance

Shares of NASDAQ TNDM opened at $37.01 on Friday. Tandem Diabetes Care, Inc. has a 1 year low of $21.85 and a 1 year high of $53.69. The stock has a market capitalization of $2.43 billion, a P/E ratio of -19.18 and a beta of 1.29. The company’s 50-day moving average is $34.73 and its 200 day moving average is $37.56. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The firm had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.38) EPS. On average, sell-side analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insiders Place Their Bets

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the director now owns 195,190 shares in the company, valued at approximately $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TNDM. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price objective for the company. Canaccord Genuity Group cut their price target on shares of Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective on the stock. Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a report on Monday, December 2nd. Finally, Barclays lifted their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.81.

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.