GW&K Investment Management LLC Sells 46,492 Shares of Tandem Diabetes Care, Inc. $TNDM

GW&K Investment Management LLC reduced its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,675,157 shares of the medical device company’s stock after selling 46,492 shares during the period. GW&K Investment Management LLC owned about 3.95% of Tandem Diabetes Care worth $58,800,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Royal Bank of Canada boosted its position in Tandem Diabetes Care by 30.5% during the first quarter. Royal Bank of Canada now owns 211,666 shares of the medical device company’s stock valued at $4,054,000 after buying an additional 49,408 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Tandem Diabetes Care by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,413 shares of the medical device company’s stock valued at $1,426,000 after purchasing an additional 2,096 shares in the last quarter. Millennium Management LLC increased its stake in shares of Tandem Diabetes Care by 41.1% during the first quarter. Millennium Management LLC now owns 227,585 shares of the medical device company’s stock valued at $4,361,000 after purchasing an additional 66,245 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Tandem Diabetes Care during the first quarter valued at approximately $225,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Tandem Diabetes Care by 5.0% during the first quarter. Goldman Sachs Group Inc. now owns 712,559 shares of the medical device company’s stock valued at $13,653,000 after acquiring an additional 34,069 shares in the last quarter.

Tandem Diabetes Care Trading Down 4.7%

Shares of Tandem Diabetes Care stock opened at $17.61 on Wednesday. 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 firm has a fifty day moving average price of $17.92 and a 200 day moving average price of $20.34. Tandem Diabetes Care, Inc. has a 1 year low of $9.98 and a 1 year high of $29.65. The stock has a market cap of $1.21 billion, a PE ratio of -12.58 and a beta of 1.58.

Tandem Diabetes Care (NASDAQ:TNDM) last issued its earnings results on Thursday, May 7th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.16. The firm had revenue of $247.22 million during the quarter, compared to analysts’ expectations of $240.41 million. Tandem Diabetes Care had a negative net margin of 9.20% and a negative return on equity of 53.88%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.66) earnings per share. Equities research analysts predict that Tandem Diabetes Care, Inc. will post -0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

TNDM has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $21.00 target price on shares of Tandem Diabetes Care in a research report on Wednesday, May 27th. Stifel Nicolaus boosted their price target on shares of Tandem Diabetes Care from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, February 20th. Morgan Stanley boosted their target price on Tandem Diabetes Care from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. TD Cowen reiterated a “buy” rating and set a $28.00 price target (up from $25.00) on shares of Tandem Diabetes Care in a report on Monday, April 20th. Finally, Truist Financial restated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of Tandem Diabetes Care in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.84.

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.