Ameriprise Financial Inc. Sells 525,159 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Ameriprise Financial Inc. decreased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 60.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,681 shares of the medical device company's stock after selling 525,159 shares during the quarter. Ameriprise Financial Inc. owned about 0.53% of Tandem Diabetes Care worth $12,451,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Algert Global LLC raised its holdings in Tandem Diabetes Care by 141.3% during the 4th quarter. Algert Global LLC now owns 89,536 shares of the medical device company's stock worth $3,225,000 after buying an additional 52,423 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in shares of Tandem Diabetes Care by 14.1% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company's stock valued at $98,108,000 after purchasing an additional 337,026 shares during the last quarter. 4D Advisors LLC acquired a new stake in shares of Tandem Diabetes Care in the fourth quarter valued at approximately $7,204,000. Freestone Grove Partners LP acquired a new stake in shares of Tandem Diabetes Care in the fourth quarter valued at approximately $6,524,000. Finally, Park West Asset Management LLC raised its holdings in shares of Tandem Diabetes Care by 49.5% in the fourth quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company's stock valued at $57,632,000 after purchasing an additional 530,000 shares during the last quarter.

Analyst Ratings Changes

TNDM has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $35.00 to $25.00 in a report on Friday, February 28th. Piper Sandler lowered their price objective on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley downgraded shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $45.00 to $22.00 in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.47.

Insider Buying and Selling at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the business's stock in a transaction 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 acquisition, the chief operating officer now owns 10,538 shares of the company's stock, valued at approximately $190,948.56. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company's stock.

Tandem Diabetes Care Price Performance

TNDM traded up $0.08 on Friday, hitting $20.72. 945,052 shares of the stock were exchanged, compared to its average volume of 1,487,297. Tandem Diabetes Care, Inc. has a 12 month low of $15.75 and a 12 month high of $53.69. The business has a 50-day moving average of $19.40 and a two-hundred day moving average of $27.46. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -10.74 and a beta of 1.47.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The firm had revenue of $234.42 million for the quarter, compared to the consensus estimate 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 company's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.65) EPS. Sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS 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.