Point72 Asset Management L.P. Buys 254,605 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Point72 Asset Management L.P. boosted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 105.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 495,311 shares of the medical device company’s stock after purchasing an additional 254,605 shares during the period. Point72 Asset Management L.P. owned approximately 0.75% of Tandem Diabetes Care worth $17,841,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Tandem Diabetes Care by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company’s stock worth $267,989,000 after purchasing an additional 77,451 shares during the period. ArrowMark Colorado Holdings LLC grew its position in Tandem Diabetes Care by 14.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company’s stock worth $98,108,000 after purchasing an additional 337,026 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Tandem Diabetes Care by 18.0% during the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company’s stock worth $76,488,000 after acquiring an additional 323,674 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Tandem Diabetes Care by 189.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company’s stock worth $59,830,000 after acquiring an additional 1,086,337 shares during the last quarter. Finally, Park West Asset Management LLC boosted its stake in shares of Tandem Diabetes Care by 49.5% during the 4th quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company’s stock worth $57,632,000 after acquiring an additional 530,000 shares during the last quarter.

Insiders Place Their Bets

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos bought 10,538 shares of Tandem Diabetes Care stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the acquisition, the chief operating officer now directly owns 10,538 shares in the company, valued at approximately $190,948.56. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Tandem Diabetes Care Stock Up 1.7%

Shares of TNDM stock opened at $23.08 on Friday. The stock has a market cap of $1.54 billion, a P/E ratio of -11.96 and a beta of 1.47. Tandem Diabetes Care, Inc. has a 52 week low of $15.75 and a 52 week high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $19.13 and its two-hundred day simple moving average is $27.84.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The company had revenue of $234.42 million during the quarter, compared to analysts’ expectations of $220.19 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.65) EPS. Analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

TNDM has been the topic of several analyst reports. Barclays dropped their price target on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Morgan Stanley cut shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th. Royal Bank of Canada dropped their price target on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Piper Sandler dropped their price target on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group dropped their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.81.

Tandem Diabetes Care Profile

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.