Blueshift Asset Management LLC Takes Position in Tandem Diabetes Care Inc (NASDAQ:TNDM)

Blueshift Asset Management LLC bought a new stake in shares of Tandem Diabetes Care Inc (NASDAQ:TNDM) during the fourth quarter, Holdings Channel.com reports. The fund bought 7,869 shares of the medical device company’s stock, valued at approximately $469,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC lifted its position in Tandem Diabetes Care by 393.5% during the 4th quarter. CWM LLC now owns 528 shares of the medical device company’s stock valued at $31,000 after acquiring an additional 421 shares during the period. TRUE Private Wealth Advisors purchased a new position in Tandem Diabetes Care in the fourth quarter worth about $45,000. Sowell Financial Services LLC purchased a new position in Tandem Diabetes Care in the fourth quarter worth about $54,000. US Bancorp DE raised its holdings in Tandem Diabetes Care by 101.0% in the fourth quarter. US Bancorp DE now owns 1,164 shares of the medical device company’s stock worth $70,000 after buying an additional 585 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in Tandem Diabetes Care in the fourth quarter worth about $141,000. 90.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TNDM stock opened at $57.50 on Thursday. The company has a 50 day moving average price of $72.09 and a 200-day moving average price of $65.59. Tandem Diabetes Care Inc has a 52 week low of $43.69 and a 52 week high of $91.65. The firm has a market capitalization of $3.30 billion, a PE ratio of -119.79 and a beta of 0.20. The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 0.07.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings results on Monday, February 24th. The medical device company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. Tandem Diabetes Care had a negative net margin of 6.83% and a negative return on equity of 8.99%. The firm had revenue of $108.40 million during the quarter, compared to analyst estimates of $109.22 million. During the same period in the previous year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 42.3% on a year-over-year basis. Analysts anticipate that Tandem Diabetes Care Inc will post -0.03 earnings per share for the current year.

Several research analysts have issued reports on TNDM shares. Piper Sandler lifted their target price on shares of Tandem Diabetes Care from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. ValuEngine raised shares of Tandem Diabetes Care from a “hold” rating to a “buy” rating in a report on Monday, March 9th. Guggenheim cut shares of Tandem Diabetes Care from a “buy” rating to a “neutral” rating in a report on Monday. Robert W. Baird cut shares of Tandem Diabetes Care from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $71.00 to $75.00 in a report on Tuesday, February 4th. Finally, Stifel Nicolaus lifted their target price on shares of Tandem Diabetes Care from $70.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Tandem Diabetes Care currently has a consensus rating of “Buy” and an average price target of $84.67.

In other news, Director Dick Allen sold 2,979 shares of Tandem Diabetes Care stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $78.82, for a total value of $234,804.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian B. Hansen sold 20,945 shares of Tandem Diabetes Care stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $77.62, for a total transaction of $1,625,750.90. Following the completion of the sale, the executive vice president now owns 7,046 shares of the company’s stock, valued at $546,910.52. The disclosure for this sale can be found here. Insiders sold 102,295 shares of company stock valued at $7,745,966 over the last quarter. Company insiders own 6.90% of the company’s stock.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

Read More: Return on Investment (ROI) Defined, Explained

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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