Cresset Asset Management LLC Sells 23,808 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Cresset Asset Management LLC decreased its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 75.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,644 shares of the medical device company's stock after selling 23,808 shares during the quarter. Cresset Asset Management LLC's holdings in Tandem Diabetes Care were worth $275,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its position 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 valued at $65,000 after purchasing an additional 1,101 shares during the last quarter. US Bancorp DE raised its position in Tandem Diabetes Care by 15.2% in the 4th quarter. US Bancorp DE now owns 38,708 shares of the medical device company's stock valued at $1,394,000 after purchasing an additional 5,108 shares during the last quarter. KBC Group NV raised its position 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 valued at $6,933,000 after purchasing an additional 56,461 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Tandem Diabetes Care by 22.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,560 shares of the medical device company's stock valued at $236,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Tandem Diabetes Care by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 7,440,005 shares of the medical device company's stock valued at $267,989,000 after purchasing an additional 77,451 shares during the last quarter.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the acquisition, the chief operating officer now directly owns 10,538 shares of the company's stock, valued at $190,948.56. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TNDM has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective 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. Morgan Stanley downgraded Tandem Diabetes Care from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $45.00 to $22.00 in a research report on Wednesday, March 5th. Citigroup lifted their price objective on Tandem Diabetes Care from $20.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday. Piper Sandler dropped their target price on 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. Finally, Stifel Nicolaus dropped their target price on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $37.47.

Tandem Diabetes Care Trading Up 0.4%

NASDAQ TNDM traded up $0.08 on Friday, reaching $20.72. The company had a trading volume of 945,052 shares, compared to its average volume of 1,485,498. The stock'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 price-to-earnings ratio of -10.74 and a beta of 1.47. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 52 week low of $15.75 and a 52 week high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). The company had revenue of $234.42 million during the quarter, compared to the consensus estimate 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 company's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.65) EPS. Equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Tandem Diabetes Care 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.