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

Ameriprise Financial Inc. lessened its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 60.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 filing with the SEC.

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

Tandem Diabetes Care Trading Up 1.7%

NASDAQ TNDM opened at $23.08 on Monday. 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 fifty-two week low of $15.75 and a fifty-two week high of $53.69. The stock has a 50 day simple moving average of $19.13 and a two-hundred day simple moving average of $27.82. 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 - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $234.42 million for the quarter, compared to analysts' expectations of $220.19 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. Tandem Diabetes Care's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.65) EPS. On average, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the firm's stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the transaction, the chief operating officer now owns 10,538 shares of the company's stock, valued at approximately $190,948.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on TNDM shares. Piper Sandler dropped 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. Canaccord Genuity Group boosted their price objective on Tandem Diabetes Care from $58.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company decreased their price target on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup lowered shares of Tandem Diabetes Care from a "buy" rating to a "neutral" rating and lowered their price target for the company from $35.00 to $24.00 in a report on Tuesday, March 4th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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