Point72 Asset Management L.P. Increases Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Point72 Asset Management L.P. increased its position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 105.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 495,311 shares of the medical device company's stock after purchasing an additional 254,605 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.75% of Tandem Diabetes Care worth $17,841,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its stake in Tandem Diabetes Care by 42.5% in the 4th quarter. ProShare Advisors LLC now owns 19,789 shares of the medical device company's stock worth $713,000 after purchasing an additional 5,903 shares in the last quarter. Quantinno Capital Management LP lifted its position in Tandem Diabetes Care by 65.7% during the fourth quarter. Quantinno Capital Management LP now owns 51,612 shares of the medical device company's stock worth $1,859,000 after buying an additional 20,467 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Tandem Diabetes Care by 9.9% during the fourth quarter. Nuveen Asset Management LLC now owns 519,019 shares of the medical device company's stock worth $18,695,000 after buying an additional 46,594 shares during the last quarter. Moore Capital Management LP purchased a new stake in Tandem Diabetes Care in the 4th quarter valued at $756,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Tandem Diabetes Care by 189.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,661,013 shares of the medical device company's stock worth $59,830,000 after acquiring an additional 1,086,337 shares during the last quarter.

Analyst Upgrades and Downgrades

TNDM has been the topic of several recent research reports. 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. Royal Bank of Canada reduced their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Citigroup cut shares of Tandem Diabetes Care from a "buy" rating to a "neutral" rating and dropped their price target for the company from $35.00 to $24.00 in a research note on Tuesday, March 4th. The Goldman Sachs Group cut their price target on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Finally, Sanford C. Bernstein lowered shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.81.

Insider Transactions at Tandem Diabetes Care

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos purchased 10,538 shares of the company's stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the purchase, the chief operating officer now directly owns 10,538 shares in the company, valued at approximately $190,948.56. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Tandem Diabetes Care Trading Down 8.0%

Shares of TNDM traded down $1.87 during midday trading on Wednesday, hitting $21.65. 1,352,285 shares of the stock were exchanged, compared to its average volume of 1,490,065. Tandem Diabetes Care, Inc. has a 52-week low of $15.75 and a 52-week high of $53.69. 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 stock has a fifty day simple moving average of $19.36 and a 200 day simple moving average of $27.68. The firm has a market cap of $1.44 billion, a P/E ratio of -11.22 and a beta of 1.47.

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 firm had revenue of $234.42 million for the quarter, compared to analyst estimates of $220.19 million. During the same period in the previous year, the company posted ($0.65) EPS. Tandem Diabetes Care's revenue was up 22.3% on a year-over-year basis. On average, research analysts anticipate 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.