Frontier Capital Management Co. LLC Has $9.80 Million Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Frontier Capital Management Co. LLC lifted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 50.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 272,088 shares of the medical device company’s stock after acquiring an additional 91,227 shares during the period. Frontier Capital Management Co. LLC owned 0.41% of Tandem Diabetes Care worth $9,801,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its stake 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 worth $34,000 after buying an additional 541 shares during the last quarter. Jones Financial Companies Lllp raised its holdings 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 during the period. Assetmark Inc. lifted 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 last quarter. Smartleaf Asset Management LLC boosted its holdings in Tandem Diabetes Care by 163.4% during the fourth 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 during the period. Finally, Venturi Wealth Management LLC grew its position in shares of Tandem Diabetes Care by 5,955.9% in the fourth quarter. Venturi Wealth Management LLC now owns 2,059 shares of the medical device company’s stock valued at $74,000 after purchasing an additional 2,025 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on TNDM. Sanford C. Bernstein downgraded Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $35.00 to $25.00 in a research note on Friday, February 28th. Royal Bank of Canada lowered their price objective on shares of Tandem Diabetes Care from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird cut their target price on shares of 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. Piper Sandler reduced their price target on shares of Tandem Diabetes Care from $36.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.81.

Insider Activity at Tandem Diabetes Care

In related news, COO Jean-Claude Kyrillos purchased 10,538 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $18.12 per share, with a total value 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 approximately $190,948.56. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ:TNDM opened at $22.98 on Friday. 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 business’s fifty day moving average price is $18.66 and its two-hundred day moving average price is $28.19. Tandem Diabetes Care, Inc. has a fifty-two week low of $15.75 and a fifty-two week high of $53.69. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -11.91 and a beta of 1.47.

Tandem Diabetes Care (NASDAQ:TNDM) last released its quarterly earnings results on Wednesday, April 30th. The medical device company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). The business had revenue of $234.42 million for the quarter, compared to the consensus estimate of $220.19 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.65) earnings per share. As a group, analysts predict that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current fiscal year.

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.