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

Principal Financial Group Inc. lowered its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 17.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 326,701 shares of the medical device company’s stock after selling 68,525 shares during the quarter. Principal Financial Group Inc.’s holdings in Tandem Diabetes Care were worth $3,966,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TNDM. AlphaQuest LLC raised its holdings 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 purchasing an additional 5,539 shares during the period. Sector Gamma AS increased its position in Tandem Diabetes Care by 28.0% during the third quarter. Sector Gamma AS now owns 269,542 shares of the medical device company’s stock worth $3,272,000 after buying an additional 59,019 shares during 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 acquired a new stake in shares of Tandem Diabetes Care in the third quarter valued at approximately $202,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Tandem Diabetes Care in the third quarter valued at approximately $183,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TNDM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Tandem Diabetes Care in a report on Wednesday, January 21st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $25.00 price objective on shares of Tandem Diabetes Care in a report on Friday, January 9th. Wall Street Zen upgraded shares of Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, December 17th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $25.00 price target (up from $18.00) on shares of Tandem Diabetes Care in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.35.

Tandem Diabetes Care Trading Up 1.4%

Shares of Tandem Diabetes Care stock opened at $18.95 on Monday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The firm has a 50-day moving average of $21.02 and a 200-day moving average of $16.87. Tandem Diabetes Care, Inc. has a 52-week low of $9.98 and a 52-week high of $35.12. The stock has a market cap of $1.28 billion, a PE ratio of -6.21 and a beta of 1.68.

About Tandem Diabetes Care

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.