Defilade Capital Management L.P. Purchases New Position in Tandem Diabetes Care, Inc. $TNDM

Defilade Capital Management L.P. purchased a new stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 761,905 shares of the medical device company’s stock, valued at approximately $14,606,000. Tandem Diabetes Care comprises about 2.1% of Defilade Capital Management L.P.’s investment portfolio, making the stock its 22nd largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Tandem Diabetes Care by 200.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,205 shares of the medical device company’s stock worth $27,000 after buying an additional 1,470 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Tandem Diabetes Care by 80.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,330 shares of the medical device company’s stock worth $30,000 after acquiring an additional 593 shares in the last quarter. OP Asset Management Ltd acquired a new position in shares of Tandem Diabetes Care in the 1st quarter worth approximately $35,000. Quarry LP boosted its holdings in shares of Tandem Diabetes Care by 2,597.1% in the 3rd quarter. Quarry LP now owns 3,695 shares of the medical device company’s stock worth $45,000 after acquiring an additional 3,558 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its position in Tandem Diabetes Care by 36.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,431 shares of the medical device company’s stock worth $75,000 after acquiring an additional 909 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TNDM shares. UBS Group began coverage on Tandem Diabetes Care in a report on Tuesday, July 28th. They set a “neutral” rating and a $18.00 price target for the company. Citigroup restated a “neutral” rating and set a $17.00 target price (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th. Zacks Research cut Tandem Diabetes Care from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Weiss Ratings lowered Tandem Diabetes Care from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group set a $21.00 price target on Tandem Diabetes Care in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tandem Diabetes Care presently has a consensus rating of “Hold” and an average price target of $28.73.

Tandem Diabetes Care Price Performance

TNDM opened at $19.50 on Monday. The company has a debt-to-equity ratio of 4.54, a current ratio of 3.58 and a quick ratio of 3.07. The stock has a market capitalization of $1.34 billion, a P/E ratio of -13.93 and a beta of 1.53. The company’s 50 day simple moving average is $16.52 and its 200-day simple moving average is $18.89. Tandem Diabetes Care, Inc. has a one year low of $9.98 and a one year high of $29.65.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings data on Thursday, May 7th. The medical device company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.16. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The firm had revenue of $247.22 million during the quarter, compared to analysts’ expectations of $240.41 million. During the same quarter in the previous year, the company posted ($0.66) EPS. Tandem Diabetes Care’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Tandem Diabetes Care, Inc. will post -0.72 earnings per share for the current fiscal year.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc (NASDAQ: TNDM), headquartered in San Diego, California, is a medical device company focused on the design, development and commercialization of innovative insulin delivery systems for people with insulin-dependent diabetes. Founded in 2006, the company introduced its first product, the t:slim® Insulin Pump, in 2011 and has since built a portfolio of next-generation pumps featuring touchscreen interfaces, remote software updates and integrated continuous glucose monitoring (CGM) capabilities.

The company’s flagship offering, the t:slim X2® Insulin Pump, is engineered to work with leading CGM sensors and features automated insulin delivery algorithms that adjust basal insulin rates based on real-time glucose trends.