Fred Alger Management LLC Sells 35,763 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Fred Alger Management LLC trimmed its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,943,356 shares of the medical device company's stock after selling 35,763 shares during the period. Fred Alger Management LLC owned approximately 2.96% of Tandem Diabetes Care worth $70,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TNDM. Vanguard Group Inc. increased its holdings 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 in the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of Tandem Diabetes Care by 14.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,723,715 shares of the medical device company's stock valued at $98,108,000 after purchasing an additional 337,026 shares during the period. GW&K Investment Management LLC boosted its position in Tandem Diabetes Care by 18.0% during the 4th quarter. GW&K Investment Management LLC now owns 2,123,488 shares of the medical device company's stock worth $76,488,000 after acquiring an additional 323,674 shares during the period. Park West Asset Management LLC increased its stake in shares of Tandem Diabetes Care by 49.5% during the 4th quarter. Park West Asset Management LLC now owns 1,600,000 shares of the medical device company's stock worth $57,632,000 after purchasing an additional 530,000 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in Tandem Diabetes Care by 22.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,555,809 shares of the medical device company's stock valued at $56,040,000 after purchasing an additional 281,327 shares during the period.

Insider Activity at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos purchased 10,538 shares of the business's stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the transaction, the chief operating officer now owns 10,538 shares of the company's stock, valued at $190,948.56. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Tandem Diabetes Care Stock Performance

Shares of TNDM stock traded down $0.17 during trading hours on Tuesday, reaching $23.28. The stock had a trading volume of 674,229 shares, compared to its average volume of 1,498,447. The firm has a 50-day simple moving average of $18.75 and a 200-day simple moving average of $28.08. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market capitalization of $1.55 billion, a PE ratio of -12.06 and a beta of 1.47. 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 issued its earnings results on Wednesday, April 30th. The medical device company reported ($0.67) 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 during the quarter, compared to analyst estimates of $220.19 million. During the same period last year, the business earned ($0.65) EPS. The business's quarterly revenue was up 22.3% on a year-over-year basis. As a group, equities analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on TNDM. Barclays decreased their price target on shares of Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Robert W. Baird decreased their price target on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Citigroup downgraded shares of Tandem Diabetes Care from a "buy" rating to a "neutral" rating and decreased their target price for the company from $35.00 to $24.00 in a research report on Tuesday, March 4th. Royal Bank of Canada lowered their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of Tandem Diabetes Care from $42.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Tandem Diabetes Care has an average rating of "Moderate Buy" and a consensus price target of $39.81.

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.