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This is a very good question. Technically, as long as the thief has no idea what your PIN code is, your funds should be safe, however if in the case your PIN is something simple, or perhaps a popular numeric sequence (examples like 1111, 12345, 9876, etc.), your funds could be at risk (only in the scenario that the thief guesses this correctly within 3 PIN attempts).
If you’re looking for absolute reassurance, without a doubt, you can send all of your funds to another temporary wallet, and then reset your Ledger device, generate a new 24 word recovery phrase, and then send the funds back to your new, fresh Ledger device.