Squarepoint Ops LLC Buys Shares of 217,386 Tandem Diabetes Care, Inc. $TNDM

Key Points

• Squarepoint Ops LLC acquired 217,386 shares of Tandem Diabetes Care in the second quarter, valued at approximately $3.28 million and representing about 0.31% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $29.34. Wells Fargo upgraded the stock to “Overweight,” while several firms maintained neutral ratings or lowered their targets.
• TNDM opened at $17.11, down 6.6%, and remains well below its 52-week high of $29.65. In its latest quarter, Tandem reported a $0.31 per-share loss—slightly better than expected—and revenue rose 5.8% year over year to $254.56 million.

Squarepoint Ops LLC purchased a new position in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 217,386 shares of the medical device company's stock, valued at approximately $3,280,000. Squarepoint Ops LLC owned approximately 0.31% of Tandem Diabetes Care as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its position in Tandem Diabetes Care by 200.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company's stock worth $27,000 after purchasing an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Tandem Diabetes Care by 80.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company's stock worth $30,000 after purchasing an additional 593 shares during the last quarter. OP Asset Management Ltd purchased a new stake in shares of Tandem Diabetes Care during the first quarter worth about $35,000. Quarry LP raised its position in shares of Tandem Diabetes Care by 2,597.1% in the third quarter. Quarry LP now owns 3,695 shares of the medical device company's stock valued at $45,000 after buying an additional 3,558 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Tandem Diabetes Care by 36.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company's stock valued at $75,000 after buying an additional 909 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have commented on TNDM. Wells Fargo & Company raised shares of Tandem Diabetes Care from a "buy" rating to an "overweight" rating and lifted their target price for the stock from $21.00 to $27.00 in a research note on Monday, June 1st. UBS Group started coverage on Tandem Diabetes Care in a research report on Tuesday, July 28th. They issued a "neutral" rating and a $18.00 price objective for the company. Citigroup reiterated a "neutral" rating and issued a $21.00 target price (up from $17.00) on shares of Tandem Diabetes Care in a research note on Friday, August 7th. Mizuho reduced their target price on Tandem Diabetes Care from $24.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 15th. Finally, Bank of America decreased their price target on Tandem Diabetes Care from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $29.34.

Tandem Diabetes Care Stock Down 6.6%

Shares of TNDM opened at $17.11 on Friday. Tandem Diabetes Care, Inc. has a fifty-two week low of $11.46 and a fifty-two week high of $29.65. The company's fifty day moving average is $19.47 and its two-hundred day moving average is $19.19. The firm has a market cap of $1.19 billion, a PE ratio of -18.40 and a beta of 1.55. The company has a quick ratio of 2.65, a current ratio of 3.18 and a debt-to-equity ratio of 4.62.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The medical device company reported ($0.31) EPS for the quarter, topping analysts' consensus estimates of ($0.32) by $0.01. The business had revenue of $254.56 million during the quarter, compared to the consensus estimate of $254.99 million. Tandem Diabetes Care had a negative return on equity of 45.97% and a negative net margin of 6.08%.The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.78) EPS. Analysts forecast that Tandem Diabetes Care, Inc. will post -0.65 earnings per share for the current year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical technology company that develops and commercializes insulin-delivery systems for people with diabetes. Headquartered in San Diego, California, the company focuses on combining wearable insulin pumps, continuous glucose monitoring connectivity and automated insulin-delivery software to help users manage their blood glucose levels.

Its product portfolio includes the t:slim X2 insulin pump, a touchscreen pump designed for integration with compatible continuous glucose monitors, and the smaller, wearable t:slim Mobi pump.

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