Assenagon Asset Management S.A. Decreases Stock Position in Tandem Diabetes Care, Inc. $TNDM

Assenagon Asset Management S.A. cut its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 85.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,430 shares of the medical device company's stock after selling 152,210 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Tandem Diabetes Care were worth $399,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in shares of Tandem Diabetes Care by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 38,676 shares of the medical device company's stock worth $849,000 after purchasing an additional 523 shares during the period. ProShare Advisors LLC grew its stake in shares of Tandem Diabetes Care by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 13,185 shares of the medical device company's stock valued at $290,000 after buying an additional 579 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Tandem Diabetes Care by 80.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company's stock worth $30,000 after buying an additional 593 shares during the period. Natixis Advisors LLC lifted its stake in shares of Tandem Diabetes Care by 1.1% during the 4th quarter. Natixis Advisors LLC now owns 57,021 shares of the medical device company's stock worth $1,253,000 after acquiring an additional 617 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Tandem Diabetes Care by 1.8% during the 4th quarter. LPL Financial LLC now owns 39,590 shares of the medical device company's stock worth $870,000 after acquiring an additional 716 shares during the last quarter.

Tandem Diabetes Care Price Performance

Shares of Tandem Diabetes Care stock opened at $22.72 on Monday. 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 $10.25 and a 1 year high of $29.65. The firm's 50-day moving average is $17.39 and its two-hundred day moving average is $18.97. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -24.43 and a beta of 1.53.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.01. Tandem Diabetes Care had a negative net margin of 6.08% and a negative return on equity of 45.97%. The business had revenue of $254.56 million during the quarter, compared to analyst estimates of $254.99 million. During the same quarter in the previous year, the business posted ($0.78) EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Tandem Diabetes Care, Inc. will post -0.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on TNDM. The Goldman Sachs Group set a $21.00 price objective on Tandem Diabetes Care in a research report on Wednesday, May 27th. Rothschild & Co Redburn set a $45.00 target price on shares of Tandem Diabetes Care in a research note on Friday, April 24th. Oppenheimer restated an "outperform" rating on shares of Tandem Diabetes Care in a report on Friday, August 7th. Canaccord Genuity Group set a $40.00 price target on shares of Tandem Diabetes Care in a research note on Friday, August 7th. Finally, Benchmark assumed coverage on shares of Tandem Diabetes Care in a research note on Monday, May 11th. They issued a "hold" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Tandem Diabetes Care currently has a consensus rating of "Hold" and a consensus target price of $28.98.

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.

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