Freestone Grove Partners LP Invests $6.52 Million in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Freestone Grove Partners LP purchased a new stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 181,124 shares of the medical device company's stock, valued at approximately $6,524,000. Freestone Grove Partners LP owned approximately 0.28% of Tandem Diabetes Care as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its holdings in shares of Tandem Diabetes Care by 138.7% in the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company's stock valued at $34,000 after purchasing an additional 541 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Tandem Diabetes Care by 195.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the medical device company's stock worth $41,000 after acquiring an additional 748 shares in the last quarter. Assetmark Inc. boosted its position in Tandem Diabetes Care by 77.5% during the 4th quarter. Assetmark Inc. now owns 1,225 shares of the medical device company's stock worth $44,000 after acquiring an additional 535 shares during the period. Smartleaf Asset Management LLC grew its stake in Tandem Diabetes Care by 163.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,775 shares of the medical device company's stock valued at $65,000 after acquiring an additional 1,101 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Tandem Diabetes Care by 5,955.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company's stock valued at $74,000 after acquiring an additional 2,025 shares in the last quarter.

Wall Street Analysts Forecast Growth

TNDM has been the subject of several research reports. Canaccord Genuity Group raised their price target on shares of Tandem Diabetes Care from $58.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday. Stifel Nicolaus lowered their price target on shares of Tandem Diabetes Care from $60.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday. Royal Bank of Canada cut their price objective on Tandem Diabetes Care from $65.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Citigroup cut Tandem Diabetes Care from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $35.00 to $24.00 in a research report on Tuesday, March 4th. Finally, Barclays dropped their target price on Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $39.81.

Tandem Diabetes Care Stock Performance

Shares of Tandem Diabetes Care stock traded down $0.19 during midday trading on Monday, hitting $21.29. The company had a trading volume of 1,107,131 shares, compared to its average volume of 1,497,200. Tandem Diabetes Care, Inc. has a 1-year low of $15.75 and a 1-year high of $53.69. The business's 50 day simple moving average is $18.80 and its two-hundred day simple moving average is $28.53. The stock has a market cap of $1.42 billion, a PE ratio of -11.03 and a beta of 1.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $234.42 million for the quarter, compared to the consensus estimate of $220.19 million. During the same quarter in the previous year, the firm posted ($0.65) EPS. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, equities analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tandem Diabetes Care news, COO Jean-Claude Kyrillos acquired 10,538 shares of Tandem Diabetes Care stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $18.12 per share, with a total value of $190,948.56. Following the acquisition, the chief operating officer now owns 10,538 shares of the company's stock, valued at approximately $190,948.56. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.