Connective Capital Management LLC Makes New Investment in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Connective Capital Management LLC purchased a new position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 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 investment portfolio, making the stock its 25th biggest holding.

Other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC lifted its holdings in Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after purchasing an additional 541 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Tandem Diabetes Care by 195.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after purchasing an additional 748 shares during the last quarter. Assetmark Inc. lifted its stake in Tandem Diabetes Care by 77.5% in the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock valued at $44,000 after buying an additional 535 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Tandem Diabetes Care by 163.4% in the 4th 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 increased its stake in Tandem Diabetes Care by 5,955.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company's stock worth $74,000 after buying an additional 2,025 shares in the last quarter.

Insider Activity at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos acquired 10,538 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $18.12 per share, with a total value of $190,948.56. Following the transaction, the chief operating officer now owns 10,538 shares of the company's stock, valued at approximately $190,948.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Tandem Diabetes Care Trading Up 0.4%

Shares of NASDAQ TNDM traded up $0.08 during midday trading on Monday, reaching $20.72. 945,052 shares of the stock were exchanged, compared to its average volume of 1,487,297. The stock has a market capitalization of $1.38 billion, a P/E ratio of -10.74 and a beta of 1.47. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The company has a 50 day simple moving average of $19.40 and a 200 day simple moving average of $27.42. Tandem Diabetes Care, Inc. has a twelve month low of $15.75 and a twelve month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its 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). Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. During the same period last year, the business earned ($0.65) EPS. Tandem Diabetes Care's revenue was up 22.3% compared to the same quarter last year. As a group, equities analysts expect that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on TNDM. The Goldman Sachs Group decreased their target price on Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company decreased their price objective on 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. Robert W. Baird dropped their target price on shares of Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Morgan Stanley cut shares of Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $45.00 to $22.00 in a research report on Wednesday, March 5th. Finally, Piper Sandler lowered their price target on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.47.

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.