Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lessened its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 881,783 shares of the medical device company’s stock after selling 20,100 shares during the quarter. Two Sigma Advisers LP’s holdings in Tandem Diabetes Care were worth $31,762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TNDM. AlphaQuest LLC grew its stake in shares of Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock valued at $34,000 after buying an additional 541 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company’s stock worth $41,000 after acquiring an additional 748 shares during the period. Assetmark Inc. grew its position in Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock valued at $44,000 after acquiring an additional 535 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Tandem Diabetes Care by 163.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company’s stock valued at $65,000 after acquiring an additional 1,101 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Tandem Diabetes Care by 5,955.9% during the fourth quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company’s stock valued at $74,000 after purchasing an additional 2,025 shares during the period.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock opened at $23.52 on Wednesday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -12.19 and a beta of 1.47. Tandem Diabetes Care, Inc. has a one year low of $15.75 and a one year high of $53.69. The company’s 50-day simple moving average is $19.31 and its 200-day simple moving average is $27.72. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90.

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

Insider Activity

In other news, COO Jean-Claude Kyrillos acquired 10,538 shares of Tandem Diabetes Care stock in a transaction that occurred on 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 completion of the purchase, the chief operating officer now directly owns 10,538 shares of the company’s stock, valued at $190,948.56. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on TNDM shares. Royal Bank of Canada decreased their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Mizuho began coverage on shares of Tandem Diabetes Care in a report on Thursday, April 10th. They issued a “neutral” rating and a $20.00 price objective on the stock. Wells Fargo & Company decreased their price objective on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Piper Sandler dropped their target price on Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Finally, Sanford C. Bernstein cut Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $35.00 to $25.00 in a research note on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.81.

Tandem Diabetes Care Company 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.