Tandem Diabetes Care, Inc. $TNDM Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 278,010 shares of the medical device company’s stock after selling 40,520 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Tandem Diabetes Care were worth $5,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TNDM. Assetmark Inc. increased its holdings in shares of Tandem Diabetes Care by 42.9% during the 1st quarter. Assetmark Inc. now owns 1,750 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 525 shares in the last quarter. CWM LLC grew its position in Tandem Diabetes Care by 262.6% during the second quarter. CWM LLC now owns 2,796 shares of the medical device company’s stock valued at $52,000 after buying an additional 2,025 shares during the period. Brooklyn Investment Group increased its holdings in Tandem Diabetes Care by 417.8% in the first quarter. Brooklyn Investment Group now owns 3,397 shares of the medical device company’s stock valued at $65,000 after buying an additional 2,741 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Tandem Diabetes Care by 186.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,171 shares of the medical device company’s stock worth $78,000 after acquiring an additional 2,717 shares during the period. Finally, State of Wyoming raised its position in shares of Tandem Diabetes Care by 49.1% in the first quarter. State of Wyoming now owns 4,467 shares of the medical device company’s stock worth $86,000 after acquiring an additional 1,471 shares during the period.

Wall Street Analysts Forecast Growth

TNDM has been the topic of a number of analyst reports. Wall Street Zen upgraded Tandem Diabetes Care from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group dropped their price objective on Tandem Diabetes Care from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Truist Financial reaffirmed a “hold” rating and set a $17.00 target price (up from $16.00) on shares of Tandem Diabetes Care in a research note on Monday. Lake Street Capital cut shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating and dropped their price target for the company from $75.00 to $12.00 in a research note on Monday, August 11th. Finally, Royal Bank Of Canada cut their price target on shares of Tandem Diabetes Care from $45.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.25.

Tandem Diabetes Care Trading Up 3.1%

Shares of TNDM stock opened at $18.06 on Thursday. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $38.28. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.90 and a current ratio of 2.44. The stock’s fifty day moving average is $13.97 and its two-hundred day moving average is $16.20. The firm has a market capitalization of $1.22 billion, a P/E ratio of -5.92 and a beta of 1.51.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, November 6th. The medical device company reported ($0.31) earnings per share for the quarter, hitting the consensus estimate of ($0.31). The firm had revenue of $249.25 million for the quarter, compared to the consensus estimate of $235.80 million. Tandem Diabetes Care had a negative net margin of 20.19% and a negative return on equity of 73.97%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm posted ($0.35) earnings per share. Tandem Diabetes Care has set its FY 2025 guidance at EPS. Research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

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.