Wellington Management Group LLP Trims Stake in Tandem Diabetes Care, Inc. $TNDM

Wellington Management Group LLP reduced its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 16.4% during the second quarter, Holdings Channel.com reports. The firm owned 871,811 shares of the medical device company’s stock after selling 170,953 shares during the quarter. Wellington Management Group LLP’s holdings in Tandem Diabetes Care were worth $13,156,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of TNDM. Vanguard Group Inc. grew its stake in shares of Tandem Diabetes Care by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock valued at $161,363,000 after acquiring an additional 278,042 shares during the period. First Light Asset Management LLC increased its holdings in Tandem Diabetes Care by 20.7% in the 1st quarter. First Light Asset Management LLC now owns 1,314,715 shares of the medical device company’s stock worth $25,203,000 after acquiring an additional 225,222 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Tandem Diabetes Care by 42.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 193,556 shares of the medical device company’s stock worth $3,710,000 after acquiring an additional 57,803 shares during the period. Renaissance Technologies LLC bought a new stake in Tandem Diabetes Care during the 1st quarter worth approximately $1,116,000. Finally, WINTON GROUP Ltd purchased a new position in Tandem Diabetes Care during the fourth quarter valued at approximately $972,000.

Tandem Diabetes Care Stock Performance

NASDAQ:TNDM opened at $19.90 on Tuesday. The company has a debt-to-equity ratio of 4.62, a current ratio of 3.18 and a quick ratio of 2.65. Tandem Diabetes Care, Inc. has a 1 year low of $11.46 and a 1 year high of $29.65. The stock’s 50 day simple moving average is $19.21 and its two-hundred day simple moving average is $19.24. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -21.40 and a beta of 1.55.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.01. The business had revenue of $254.56 million for the quarter, compared to analysts’ expectations of $254.99 million. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.78) EPS. As a group, equities analysts anticipate that Tandem Diabetes Care, Inc. will post -0.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America lowered their price target on Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Zacks Research cut shares of Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Oppenheimer reissued an “outperform” rating on shares of Tandem Diabetes Care in a report on Friday, August 7th. The Goldman Sachs Group set a $21.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday, May 27th. Finally, UBS Group started coverage on shares of Tandem Diabetes Care in a research note on Tuesday, July 28th. They set a “neutral” rating and a $18.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of “Hold” and a consensus price target of $29.34.

About Tandem Diabetes Care

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.