Chicago Capital LLC Has $397,000 Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Chicago Capital LLC reduced its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 97.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,726 shares of the medical device company's stock after selling 949,881 shares during the period. Chicago Capital LLC's holdings in Tandem Diabetes Care were worth $397,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its stake in Tandem Diabetes Care by 27.1% during the first quarter. Janney Montgomery Scott LLC now owns 38,450 shares of the medical device company's stock worth $737,000 after purchasing an additional 8,210 shares during the period. SG Americas Securities LLC boosted its stake in Tandem Diabetes Care by 366.4% during the first quarter. SG Americas Securities LLC now owns 16,353 shares of the medical device company's stock worth $313,000 after acquiring an additional 12,847 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Tandem Diabetes Care by 31.3% in the first quarter. Park Avenue Securities LLC now owns 11,708 shares of the medical device company's stock worth $224,000 after purchasing an additional 2,794 shares during the period. NBC Securities Inc. acquired a new stake in Tandem Diabetes Care in the first quarter worth $37,000. Finally, GAMMA Investing LLC increased its stake in Tandem Diabetes Care by 763.3% in the first quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company's stock valued at $808,000 after purchasing an additional 37,303 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stifel Nicolaus reduced their target price on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Truist Financial started coverage on Tandem Diabetes Care in a research note on Monday. They issued a "hold" rating and a $24.00 price objective for the company. Royal Bank Of Canada decreased their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group cut their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, Piper Sandler reduced their price target on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $33.43.

Tandem Diabetes Care Price Performance

Shares of NASDAQ:TNDM opened at $20.07 on Wednesday. The company has a current ratio of 2.30, a quick ratio of 1.81 and a debt-to-equity ratio of 1.99. The stock has a market cap of $1.34 billion, a PE ratio of -7.22 and a beta of 1.52. The stock's fifty day simple moving average is $20.06 and its two-hundred day simple moving average is $26.35. Tandem Diabetes Care, Inc. has a 1-year low of $15.75 and a 1-year high of $48.24.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). Tandem Diabetes Care had a negative net margin of 18.71% and a negative return on equity of 57.33%. The firm had revenue of $234.42 million for the quarter, compared to the consensus estimate of $220.19 million. During the same period in the previous year, the business earned ($0.65) earnings per share. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. As a group, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

About Tandem Diabetes Care

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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