Principal Financial Group Inc. Boosts Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Principal Financial Group Inc. boosted its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 388,347 shares of the medical device company’s stock after acquiring an additional 18,025 shares during the period. Principal Financial Group Inc.’s holdings in Tandem Diabetes Care were worth $13,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TNDM. Raymond James & Associates lifted its position in Tandem Diabetes Care by 8.0% during the third quarter. Raymond James & Associates now owns 104,418 shares of the medical device company’s stock valued at $4,428,000 after acquiring an additional 7,747 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Tandem Diabetes Care during the third quarter valued at approximately $220,000. International Assets Investment Management LLC raised its holdings in shares of Tandem Diabetes Care by 4,141.2% in the third quarter. International Assets Investment Management LLC now owns 6,998 shares of the medical device company’s stock worth $297,000 after buying an additional 6,833 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Tandem Diabetes Care by 54.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,648 shares of the medical device company’s stock worth $2,575,000 after buying an additional 21,282 shares during the last quarter. Finally, abrdn plc purchased a new position in shares of Tandem Diabetes Care in the third quarter worth $6,126,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup decreased their price target on shares of Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Barclays increased their price objective on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Robert W. Baird cut their price objective on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a research note on Wednesday. Finally, Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.25.

Tandem Diabetes Care Stock Up 0.7 %

Shares of NASDAQ TNDM opened at $33.59 on Thursday. The company’s 50-day simple moving average is $35.44 and its 200-day simple moving average is $36.64. Tandem Diabetes Care, Inc. has a 52-week low of $25.78 and a 52-week high of $53.69. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -17.40 and a beta of 1.32. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29.

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.