Geode Capital Management LLC Boosts Position in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Geode Capital Management LLC raised its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,525,816 shares of the medical device company’s stock after buying an additional 18,187 shares during the quarter. Geode Capital Management LLC’s holdings in Tandem Diabetes Care were worth $64,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Tandem Diabetes Care by 29.2% during the 2nd quarter. Signaturefd LLC now owns 2,307 shares of the medical device company’s stock valued at $93,000 after buying an additional 522 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tandem Diabetes Care by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,960 shares of the medical device company’s stock worth $603,000 after acquiring an additional 592 shares during the period. Brooklyn Investment Group purchased a new position in Tandem Diabetes Care during the third quarter valued at approximately $28,000. Assetmark Inc. acquired a new position in Tandem Diabetes Care in the third quarter valued at approximately $29,000. Finally, ORG Wealth Partners LLC purchased a new stake in Tandem Diabetes Care in the 3rd quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

TNDM has been the subject of several analyst reports. Robert W. Baird decreased their target price on shares of 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. Sanford C. Bernstein started coverage on shares of Tandem Diabetes Care in a research report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price objective for the company. Citigroup cut their price target on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Morgan Stanley raised Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Monday, December 2nd. Finally, The Goldman Sachs Group assumed coverage on Tandem Diabetes Care in a report on Friday, October 4th. They issued a “neutral” rating and a $46.00 price objective on the stock. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.81.

Tandem Diabetes Care Stock Up 7.9 %

TNDM stock opened at $35.91 on Friday. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -18.61 and a beta of 1.32. The firm has a 50-day moving average of $32.34 and a two-hundred day moving average of $38.97. Tandem Diabetes Care, Inc. has a 12 month low of $21.85 and a 12 month high of $53.69. 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 (NASDAQ:TNDM) last announced its quarterly earnings data 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. The firm had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The firm’s revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.38) earnings per share. As a group, analysts forecast that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Insider Activity at Tandem Diabetes Care

In other Tandem Diabetes Care news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were 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 in the company, valued at $5,855,700. The trade was a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.

Tandem Diabetes Care Company Profile

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.