Connective Capital Management LLC Takes $611,000 Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Connective Capital Management LLC bought a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,960 shares of the medical device company's stock, valued at approximately $611,000. Tandem Diabetes Care accounts for about 0.7% of Connective Capital Management LLC's holdings, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TNDM. Park Avenue Securities LLC increased its stake in shares of Tandem Diabetes Care by 34.5% during the fourth quarter. Park Avenue Securities LLC now owns 8,914 shares of the medical device company's stock valued at $321,000 after buying an additional 2,286 shares during the period. LVW Advisors LLC boosted its holdings in Tandem Diabetes Care by 13.8% in the fourth quarter. LVW Advisors LLC now owns 7,798 shares of the medical device company's stock valued at $281,000 after acquiring an additional 944 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Tandem Diabetes Care by 17.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 30,240 shares of the medical device company's stock valued at $1,089,000 after purchasing an additional 4,412 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Tandem Diabetes Care in the 4th quarter worth $92,000. Finally, KBC Group NV raised its holdings in Tandem Diabetes Care by 41.5% in the 4th quarter. KBC Group NV now owns 192,479 shares of the medical device company's stock worth $6,933,000 after purchasing an additional 56,461 shares in the last quarter.

Tandem Diabetes Care Stock Up 0.4%

Shares of NASDAQ TNDM traded up $0.08 during trading on Friday, reaching $20.72. The company had a trading volume of 945,052 shares, compared to its average volume of 1,485,498. Tandem Diabetes Care, Inc. has a 12-month low of $15.75 and a 12-month high of $53.69. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. The business's 50-day moving average is $19.40 and its 200 day moving average is $27.51. The stock has a market cap of $1.38 billion, a PE ratio of -10.74 and a beta of 1.47.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) EPS 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 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%. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the company posted ($0.65) earnings per share. As a group, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird cut their target price on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Canaccord Genuity Group lifted 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. Citigroup increased their target price on Tandem Diabetes Care from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday. Morgan Stanley cut Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $45.00 to $22.00 in a research note on Wednesday, March 5th. Finally, Mizuho initiated coverage on Tandem Diabetes Care in a research note on Thursday, April 10th. They issued a "neutral" rating and a $20.00 price target on the stock. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.47.

Insider Activity

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

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.