Stephens Investment Management Group LLC Raises Stock Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Stephens Investment Management Group LLC raised its position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 22.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,555,809 shares of the medical device company’s stock after purchasing an additional 281,327 shares during the period. Stephens Investment Management Group LLC owned 2.37% of Tandem Diabetes Care worth $56,040,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Tandem Diabetes Care in the third quarter worth $28,000. Assetmark Inc. purchased a new stake in shares of Tandem Diabetes Care in the 3rd quarter valued at about $29,000. ORG Wealth Partners LLC purchased a new position in shares of Tandem Diabetes Care during the third quarter worth about $30,000. Waldron Private Wealth LLC bought a new position in shares of Tandem Diabetes Care in the third quarter worth approximately $50,000. Finally, McIlrath & Eck LLC purchased a new stake in Tandem Diabetes Care in the third quarter valued at approximately $52,000.

Tandem Diabetes Care Price Performance

Shares of TNDM stock opened at $36.10 on Friday. 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 fifty-two week low of $22.03 and a fifty-two week high of $53.69. The business’s 50 day moving average price is $35.42 and its 200-day moving average price is $37.21.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.08. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The business had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. During the same quarter in the previous year, the business posted ($0.38) earnings per share. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, sell-side analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current year.

Insider Activity

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the director now directly owns 195,190 shares in the company, valued at $5,855,700. This trade represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

TNDM has been the subject of a number of research reports. Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research note on Monday, December 2nd. Citigroup reduced their target price on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Barclays lifted their price target on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Canaccord Genuity Group reduced their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird dropped their target price on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.81.

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.