Intech Investment Management LLC Sells 46,122 Shares of Tandem Diabetes Care, Inc. $TNDM

Intech Investment Management LLC decreased its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 62.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,371 shares of the medical device company’s stock after selling 46,122 shares during the period. Intech Investment Management LLC’s holdings in Tandem Diabetes Care were worth $602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Tandem Diabetes Care by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 7,341,356 shares of the medical device company’s stock worth $161,363,000 after purchasing an additional 278,042 shares during the period. ArrowMark Colorado Holdings LLC lifted its stake in Tandem Diabetes Care by 36.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,691,198 shares of the medical device company’s stock worth $44,811,000 after purchasing an additional 991,649 shares during the period. Jennison Associates LLC lifted its stake in Tandem Diabetes Care by 42.3% during the fourth quarter. Jennison Associates LLC now owns 2,021,376 shares of the medical device company’s stock worth $44,430,000 after purchasing an additional 601,260 shares during the period. Freestone Grove Partners LP bought a new position in Tandem Diabetes Care during the third quarter worth about $22,706,000. Finally, Geode Capital Management LLC lifted its stake in Tandem Diabetes Care by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,649,383 shares of the medical device company’s stock worth $36,260,000 after purchasing an additional 51,102 shares during the period.

Tandem Diabetes Care Stock Performance

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 market cap of $1.21 billion, a P/E ratio of -12.58 and a beta of 1.58. The firm has a 50 day simple moving average of $17.92 and a 200 day simple moving average of $20.34. Tandem Diabetes Care, Inc. has a fifty-two week low of $9.98 and a fifty-two week high of $29.65.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TNDM. Bank of America cut their price target on shares of Tandem Diabetes Care from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. The Goldman Sachs Group set a $21.00 price target on shares of Tandem Diabetes Care in a research note on Wednesday, May 27th. Barclays set a $55.00 price target on shares of Tandem Diabetes Care and gave the stock an “overweight” rating in a research note on Monday, May 11th. Rothschild & Co Redburn set a $45.00 price objective on shares of Tandem Diabetes Care in a report on Friday, April 24th. Finally, Citigroup reaffirmed a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Tandem Diabetes Care in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.84.

Tandem Diabetes Care 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.