Divisadero Street Capital Management LP Lowers Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Divisadero Street Capital Management LP lowered its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 69.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 360,232 shares of the medical device company's stock after selling 834,074 shares during the quarter. Tandem Diabetes Care makes up approximately 1.5% of Divisadero Street Capital Management LP's portfolio, making the stock its 20th biggest position. Divisadero Street Capital Management LP owned approximately 0.55% of Tandem Diabetes Care worth $12,976,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cetera Investment Advisers increased its stake in Tandem Diabetes Care by 7.4% in the fourth quarter. Cetera Investment Advisers now owns 14,185 shares of the medical device company's stock valued at $511,000 after purchasing an additional 981 shares during the period. Brevan Howard Capital Management LP grew its holdings in shares of Tandem Diabetes Care by 140.9% during the fourth quarter. Brevan Howard Capital Management LP now owns 52,841 shares of the medical device company's stock worth $1,903,000 after buying an additional 30,909 shares during the last quarter. Captrust Financial Advisors increased its position in Tandem Diabetes Care by 82.0% in the 4th quarter. Captrust Financial Advisors now owns 18,513 shares of the medical device company's stock valued at $667,000 after acquiring an additional 8,343 shares during the period. Brown Advisory Inc. purchased a new stake in Tandem Diabetes Care during the 4th quarter valued at approximately $32,889,000. Finally, Beaconlight Capital LLC lifted its position in Tandem Diabetes Care by 53.6% during the 4th quarter. Beaconlight Capital LLC now owns 331,209 shares of the medical device company's stock worth $11,930,000 after acquiring an additional 115,594 shares during the period.

Insider Activity at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos purchased 10,538 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $190,948.56. Following the completion of the acquisition, the chief operating officer now directly owns 10,538 shares in the company, valued at $190,948.56. This represents 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 currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TNDM. Barclays decreased their price target on Tandem Diabetes Care from $60.00 to $53.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Stifel Nicolaus lowered their target price 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, May 1st. Mizuho initiated coverage on shares of Tandem Diabetes Care in a research note on Thursday, April 10th. They set a "neutral" rating and a $20.00 price target on the stock. Sanford C. Bernstein downgraded shares of Tandem Diabetes Care from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Finally, Robert W. Baird cut their target price on Tandem Diabetes Care from $33.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.81.

Tandem Diabetes Care Price Performance

Shares of TNDM stock traded up $0.24 during trading hours on Friday, hitting $22.98. The company's stock had a trading volume of 1,042,859 shares, compared to its average volume of 1,499,625. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a twelve month low of $15.75 and a twelve month high of $53.69. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -11.91 and a beta of 1.47. The business has a fifty day moving average of $18.66 and a 200-day moving average of $28.19.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) earnings per share 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 analysts' expectations of $220.19 million. During the same period in the previous year, the business posted ($0.65) EPS. The business's quarterly revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

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.