Hsbc Holdings PLC Cuts Stock Position in Tandem Diabetes Care, Inc. $TNDM

Hsbc Holdings PLC cut its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 60.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,553 shares of the medical device company’s stock after selling 56,373 shares during the quarter. Hsbc Holdings PLC owned approximately 0.05% of Tandem Diabetes Care worth $810,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Tandem Diabetes Care by 200.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after acquiring an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Tandem Diabetes Care by 80.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 593 shares in the last quarter. Quarry LP boosted its stake in shares of Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 3,558 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Tandem Diabetes Care by 36.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 909 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Tandem Diabetes Care by 67.4% during the 4th quarter. Van ECK Associates Corp now owns 3,430 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 1,381 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on TNDM. Bank of America lowered their price target on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Weiss Ratings cut Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Piper Sandler upgraded Tandem Diabetes Care from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $21.00 to $33.00 in a report on Tuesday, March 17th. Benchmark began coverage on Tandem Diabetes Care in a research note on Monday, May 11th. They issued a “hold” rating for the company. Finally, Zacks Research cut Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tandem Diabetes Care currently has an average rating of “Hold” and a consensus target price of $29.12.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $15.54 on Wednesday. The company’s fifty day simple moving average is $15.89 and its two-hundred day simple moving average is $19.33. Tandem Diabetes Care, Inc. has a 12-month low of $9.98 and a 12-month high of $29.65. The firm has a market cap of $1.06 billion, a PE ratio of -11.10 and a beta of 1.58. The company has a quick ratio of 3.07, a current ratio of 3.58 and a debt-to-equity ratio of 4.54.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.16. The firm had revenue of $247.22 million during the quarter, compared to the consensus estimate of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.66) earnings per share. As a group, equities analysts expect that Tandem Diabetes Care, Inc. will post -0.72 EPS for the current year.

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.