Two Sigma Advisers LP Cuts Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Two Sigma Advisers LP trimmed its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 881,783 shares of the medical device company's stock after selling 20,100 shares during the quarter. Two Sigma Advisers LP owned 1.34% of Tandem Diabetes Care worth $31,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System lifted its position in shares of Tandem Diabetes Care by 1.9% in the fourth quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company's stock worth $683,000 after buying an additional 362 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Tandem Diabetes Care by 4.3% during the 4th quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company's stock worth $360,000 after purchasing an additional 409 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in Tandem Diabetes Care by 8.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company's stock valued at $247,000 after buying an additional 525 shares during the period. Assetmark Inc. increased its stake in Tandem Diabetes Care by 77.5% in the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock valued at $44,000 after acquiring an additional 535 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of Tandem Diabetes Care by 138.7% in the 4th quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after purchasing an additional 541 shares during the period.

Tandem Diabetes Care Price Performance

NASDAQ TNDM traded up $0.08 on Monday, hitting $20.72. The stock had a trading volume of 945,052 shares, compared to its average volume of 1,487,297. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. Tandem Diabetes Care, Inc. has a 52-week low of $15.75 and a 52-week high of $53.69. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -10.74 and a beta of 1.47. The firm has a 50-day moving average of $19.40 and a 200-day moving average of $27.42.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.07). The business had revenue of $234.42 million during the quarter, compared to the consensus estimate of $220.19 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. Tandem Diabetes Care's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.65) earnings per share. Equities analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on TNDM. Royal Bank of Canada dropped their target price on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus decreased their price target on Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company cut their price target on shares of Tandem Diabetes Care from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Mizuho started coverage on shares of 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. Finally, Piper Sandler reduced their target price on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.47.

Insider Buying and Selling at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos purchased 10,538 shares of the firm's stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $18.12 per share, for a total transaction of $190,948.56. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.