AlphaCrest Capital Management LLC Sells 5,039 Shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

AlphaCrest Capital Management LLC trimmed its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDMGet Rating) by 41.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,121 shares of the medical device company’s stock after selling 5,039 shares during the period. AlphaCrest Capital Management LLC’s holdings in Tandem Diabetes Care were worth $1,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of Tandem Diabetes Care by 8.4% during the third quarter. Invesco Ltd. now owns 1,737,518 shares of the medical device company’s stock valued at $207,425,000 after purchasing an additional 134,364 shares during the last quarter. Stanley Laman Group Ltd. purchased a new position in shares of Tandem Diabetes Care during the fourth quarter valued at approximately $2,562,000. Assenagon Asset Management S.A. raised its holdings in shares of Tandem Diabetes Care by 36.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 60,776 shares of the medical device company’s stock valued at $9,148,000 after purchasing an additional 16,140 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Tandem Diabetes Care by 33.6% during the third quarter. Teacher Retirement System of Texas now owns 10,077 shares of the medical device company’s stock valued at $1,203,000 after purchasing an additional 2,533 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Tandem Diabetes Care by 5.0% during the third quarter. Barclays PLC now owns 126,333 shares of the medical device company’s stock valued at $15,082,000 after purchasing an additional 6,056 shares during the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO John F. Sheridan bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average price of $69.90 per share, for a total transaction of $174,750.00. Following the completion of the transaction, the chief executive officer now owns 10,058 shares in the company, valued at $703,054.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David B. Berger sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $108.37, for a total transaction of $541,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 5,000 shares of company stock valued at $361,270 and have sold 8,153 shares valued at $870,264. 4.80% of the stock is currently owned by corporate insiders.

Shares of NASDAQ TNDM opened at $73.85 on Friday. The firm has a fifty day moving average price of $105.44 and a 200-day moving average price of $120.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.21 and a quick ratio of 5.60. The stock has a market cap of $4.72 billion, a PE ratio of 923.24 and a beta of 0.66. Tandem Diabetes Care, Inc. has a 1 year low of $67.03 and a 1 year high of $155.86.

Tandem Diabetes Care (NASDAQ:TNDMGet Rating) last issued its earnings results on Wednesday, May 4th. The medical device company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). Tandem Diabetes Care had a return on equity of 1.64% and a net margin of 0.80%. The company had revenue of $175.91 million for the quarter, compared to the consensus estimate of $168.21 million. During the same quarter in the prior year, the company posted ($0.07) EPS. Tandem Diabetes Care’s revenue was up 24.7% compared to the same quarter last year. On average, research analysts expect that Tandem Diabetes Care, Inc. will post 0.36 EPS for the current year.

TNDM has been the subject of several research reports. Citigroup decreased their price objective on shares of Tandem Diabetes Care from $163.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, February 23rd. StockNews.com cut shares of Tandem Diabetes Care from a “hold” rating to a “sell” rating in a report on Tuesday. Bank of America began coverage on shares of Tandem Diabetes Care in a report on Wednesday, March 2nd. They set a “neutral” rating and a $130.00 target price for the company. Oppenheimer reduced their target price on shares of Tandem Diabetes Care from $142.00 to $130.00 in a report on Thursday, May 5th. Finally, Piper Sandler reduced their target price on shares of Tandem Diabetes Care from $170.00 to $120.00 in a report on Thursday, May 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Tandem Diabetes Care presently has an average rating of “Hold” and an average price target of $137.55.

Tandem Diabetes Care Profile (Get Rating)

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.

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Institutional Ownership by Quarter for Tandem Diabetes Care (NASDAQ:TNDM)

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