Bridgewater Associates LP Boosts Holdings in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Bridgewater Associates LP lifted its stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 107.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,635 shares of the medical device company’s stock after purchasing an additional 13,299 shares during the quarter. Bridgewater Associates LP’s holdings in Tandem Diabetes Care were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of TNDM. Price T Rowe Associates Inc. MD raised its position in shares of Tandem Diabetes Care by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,732 shares of the medical device company’s stock worth $1,372,000 after purchasing an additional 1,985 shares during the last quarter. GAMMA Investing LLC increased its holdings in Tandem Diabetes Care by 11.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company’s stock worth $172,000 after buying an additional 431 shares in the last quarter. LVW Advisors LLC increased its holdings in Tandem Diabetes Care by 15.1% in the 2nd quarter. LVW Advisors LLC now owns 7,869 shares of the medical device company’s stock worth $317,000 after buying an additional 1,034 shares in the last quarter. Diversified Trust Co increased its holdings in Tandem Diabetes Care by 11.1% in the 2nd quarter. Diversified Trust Co now owns 14,635 shares of the medical device company’s stock worth $590,000 after buying an additional 1,462 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in Tandem Diabetes Care in the 2nd quarter worth about $31,000.

Analyst Upgrades and Downgrades

Several research firms recently commented on TNDM. Canaccord Genuity Group reduced their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Barclays lifted their price objective on Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Sanford C. Bernstein initiated coverage on Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price objective for the company. Royal Bank of Canada initiated coverage on Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 price target for the company. Finally, Robert W. Baird cut their price target on Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.25.

Insider Buying and Selling

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director now directly owns 195,190 shares of the company’s stock, valued at approximately $5,855,700. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by insiders.

Tandem Diabetes Care Trading Down 1.9 %

Shares of NASDAQ:TNDM opened at $30.63 on Monday. The stock has a 50 day moving average of $34.88 and a 200 day moving average of $40.74. The company has a market cap of $2.01 billion, a PE ratio of -15.87 and a beta of 1.36. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care, Inc. has a 12-month low of $18.45 and a 12-month high of $53.69.

Tandem Diabetes Care (NASDAQ:TNDM) last posted its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The company had revenue of $243.97 million for the quarter, compared to analysts’ expectations of $224.14 million. During the same period in the previous year, the firm earned ($0.38) EPS. The firm’s revenue was up 31.4% compared to the same quarter last year. As a group, equities research analysts expect that Tandem Diabetes Care, Inc. will post -1.68 EPS for the current 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.